Rules that will require the word’s largest banks to meet higher capital requirements than those adopted by the Basel Committee on Banking Supervision will be in place and operational by the end of 2012, according to Mario Draghi, chairman of the Financial Stability Board. Sources attending a conference in Paris last Friday said Draghi also said the new rules, which include so-called living wills and wind-up plans, would first be imposed on the largest of banks, and then on others over time.

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