Following endorsement of its proposed reforms of the Basel II framework at the G20 Seoul Summit in November 2010, the Basel Committee on Banking Supervision (“BCBS”) published the final Basel III rules on 16 December 2010. The rules are contained in two separate documents: (1) Basel III: A global regulatory framework for more resilient banks and banking systems and (2) Basel III: International framework for liquidity risk measurement, standards and reporting,1 together with the results of the BCBS’s comprehensive quantitative impact study (“QIS”).2

We summarise below certain of the key features of the new Basel III rules.