``The Basel accord, which is to be phased in from 2013 through 2019, will require banks to maintain top-quality capital equivalent to 7 percent of their risk-bearing assets, about three times what they are required to hold under existing rules. And mortgage servicing rights that can't exceed 10% of Tier 1 capital, impacting every depository lender that owns, and originates, servicing. On top of that, however, 28 global "systemic" banks may have to hold up to an additional 2.5 percent buffer. It is up to each country to write rules to implement the Basel agreement for its banks. U.S. banks have pushed regulators to allow them to count more heavily mortgage servicing rights and the unrealized gains and losses of certain securities toward their capital requirements than allowed by Basel III, but the Fed's draft rule closely follows the international agreement.''

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