Stefan Ingves, chairman of the Basel Committee on Banking Supervision,on Nov. 23, 2012 in Frankfurt, Germany.
Stefan Ingves, chairman of the Basel Committee on Banking Supervision,on Nov. 23, 2012 in Frankfurt, Germany. - 
Listen To The Story
Marketplace

The Basel Committee on Banking Supervision made some significant changes to the financial rules of the road today. For the first time ever, banks in the world’s 20 biggest economies will have to hold a certain amount of cash or assets in case of a crisis.

Marketplace’s Stephen Beard breaks it down like this: “This is designed so that people don’t form lines five times around the block, because they’ll know that the bank has enough money to pay them off if they want their money back," said Beard.

Should account holders be worried? Beard says probably not, because there is no sign of bank runs in our future.

“I think the best compliment I can give is not to say how much your programs have taught me (a ton), but how much Marketplace has motivated me to go out and teach myself.” – Michael in Arlington, VA

As a nonprofit news organization, what matters to us is the same thing that matters to you: being a source for trustworthy, independent news that makes people smarter about business and the economy. So if Marketplace has helped you understand the economy better, make more informed financial decisions or just encouraged you to think differently, we’re asking you to give a little something back.

Become a Marketplace Investor today – in whatever amount is right for you – and keep public service journalism strong. We’re grateful for your support.