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Logos are seen outside a branch of Barclays bank in London on July 30, 2013.
Logos are seen outside a branch of Barclays bank in London on July 30, 2013.
(TOBY MELVILLE/REUTERS)

Global banks raise cash, slash assets to meet leverage rules

Global banks are quickly coming to grips with a new world order, requiring them to make radical changes to their balance sheets.

The Basel Committee for Banking Supervision will soon require banks to hold capital that amounts to at least 3 per cent of all their assets, regardless of their risk-weighting, and major financial institutions are being forced to consider raising equity or slashing assets.