The existence of higher levels of better quality capital will likely be positive for senior bank creditors and for overall bank stability in the long-term
Capital reforms will be presented to the G20 Leaders summit in November
Guidance will assist supervisors in applying the core principles
Some changes made to appease banking industry
Group issues proposal on adopting countercyclical capital buffers
Extra time will provide supervisors with additional flexibility
Banks and regulators should develop plans to promote resiliency in periods of severe financial distress
Deficiencies became apparent during financial crisis, committee says
Report highlights four key concerns
Group calls for finalized package of reforms to be delivered by the end of this year