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LONDON - The European Union said on Thursday it had given final approval to roll out the remaining batch of tougher bank capital rules from January 2025, building on safeguards introduced after taxpayers had to bail out lenders in the global financial crisis over a decade ago.
"The rules adopted today will ensure that European banks can continue to operate in the face of economic shocks," Vincent Van Peteghem, minister for finance for Belgium, which holds the EU presidency, said in a statement. The bloc has included other rules, not part of the Basel norms, to harmonise the minimum requirements across the 27-country bloc for authorising branches of banks that are headquartered outside the EU.
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