Europe's Banks Must Adapt To Survive Capital Reforms: Report

Law360, London (December 19, 2016, 3:51 PM GMT) -- Europe's banks must change their business models to stay viable under increased capital requirements that top global regulators are set to finalize next month, accounting giant KPMG LLP said Monday.

KPMG predicted earlier in the year that the controversial reforms to the Basel III accord — which bankers informally call Basel IV — would increase international banks' capital requirements by a full €350 billion ($365 billion) but it now warns of even greater costs as they develop internal risk models and produce further reaching capital reports.

The Basel Committee on Banking Supervision's group of governors and heads of supervision will finally...

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