In a meeting in Basel, Switzerland, over the weekend, global bank regulators agreed to change rules governing the amount and type of assets banks must hold for liquidity purposes. Under the agreement, lenders will be allowed to use an expanded range of assets, including some equities and securitized mortgage debt, at a discounted rate to meet the liquidity coverage ratio, or LCR. Regulators will also give banks four more years to comply with the rule. The compromise was reached to help strengthen banks while allowing them to continue to make loans to help grow the global economy, as many banks around the world are well short of the required LCR. This is the first time that there has been a global agreement on bank liquidity rules. The NY Times and Bloomberg also reported that US banking regulators and a group of 14 banks are ready to announce a $10 billion settlement that would end the government’s investigation into foreclosure abuses such as faulty paperwork and excessive fees that may have led to evictions. All 14 banks are expected to sign on to the settlement.