On December 7, 2017, the United States banking agencies announced their support for the conclusion of efforts to reform the international bank capital standards initiated in response to the global financial crisis.  The Group of Central Bank Governors and Heads of Supervision and the Basel Committee on Banking Supervision announced the finalization of the reforms to the “Basel III” agreement on bank capital standards.  With this agreement, the Basel Committee will bring to conclusion the international reforms initiated in response to the global financial crisis.  Press Release.