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Little joy for big four in Moody’s assessment 

August 6, 2014
Michael Bennet, The Australian

The big four banks’ complaints that they are being too harshly forced to adhere to new global rules have been dealt another blow, with a leading credit ­ratings agency claiming most of their peers across the world are in the same boat.

“Many jurisdictions are implementing stricter requirements for larger banks, including accelerated phase-in or higher capital levels,” Moody’s said of the Basel III banking rules.

In an update on the so-called Basel III rules being phased in globally by 2019, Moody’s also backed claims by David Murray, the chairman of the government’s financial system inquiry, that the big banks weren’t being too onerously regulated by the Australian Prudential Regulation Authority.

Read more: The Australian

 
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