Basel Bank-Law Accord Moves Closer as EU Drafts Compromises

The European Union edged closer to settling how to impose Basel bank capital rules on its lenders after officials and lawmakers drafted potential compromises on parts of the regulatory overhaul.

Officials and lawmakers said a deal on the legislation was in sight following negotiations yesterday in Brussels. The measures, known as Basel III, would more than triple the core capital that lenders must hold as a buffer against insolvency, and require banks to meet minimum liquidity rules. The European Parliament has called for curbs on banker bonuses, too.