The European Union and the United States have taken some legislative action, followed by a broad agreement reached last month at the Basel Committee for Banking Supervision that should be finalized by the end of this year.

FORBES: Banking From A Venezuelan Perspective

There is an oddity at the heart of today's historic agreement by the oversight body of the Basel Committee on Banking Supervision, which for the first time will impose new minimum requirements for the amount of cash and liquid assets that banks all over the world will have to hold.

BBC: Banks agree minimum liquidity rules

Central bankers who make up the oversight body of the Basel Committee on Banking Supervision announced new capital standards for banks on Sunday, aimed at reducing the risk of another financial crisis that comes from a drying up of banks' liquidity.

FORBES

The Basel committee on banking supervision , which sets capital standards for banks around the world, published a consultation document on December 17th that was more stringent than many bankers had expected.

ECONOMIST: The world this week

Unlike the politicians at Copenhagen, the central bank governors and heads of banking supervision who form the oversight body of the Basel Committee on Banking Supervision - which decides these vital rules for banks - well, they don't exactly court the media.

BBC: Why have we left bank reform to technocrats?