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EU executive proposes nine-month delay to bank buffer plan 

July 24, 2014
Huw Jones, Reuters

European Union rules forcing banks to hold a buffer of cash and top quality debt to withstand market shocks will be delayed by nine months, the bloc's executive body has proposed.

The so-called liquidity coverage ratio (LCR) is part of a global deal known as Basel III to beef up banks' resilience so they do not have to rely on taxpayers again as they did in the 2007-09 financial crisis.

Under Basel, the LCR is being phased in January 2015, but the European Commission is now proposing a delay until October that year, the EU executive's proposal seen by Reuters showed.

Read More: Reuters

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