Austria on Monday became the first country in the eurozone, and one of only a handful across the globe, to say it would fast track compliance with the Basel III capital rules.
To boot, Austria will also introduce an additional capital buffer early. And the buffer will be set between 2-3 per cent dependent on the risks inherent in banks’ business models, higher than the 1-2.5 per cent specified in the Basel III framework.
Is Austria getting too tough too soon? Read more