The world's banks could get ten years to transition to new capital rules that will take effect...

|By:, SA News Editor

The world's banks could get ten years to transition to new capital rules that will take effect in 2012, sources say. The news lifted shares of some banks, with MUFG (MTU) and Sumitomo Mitsui Financial (SMFJY.PK) surging more than 14%. The Basel Committee's new rules will likely take a broader view on the definition of liquid assets and core capital, while the minimum capital threshold will likely be raised to help buffer against future losses.