And that is ASSETS not cash.
There are two different areas of interest here
The first is that those that have INVESTED in the bank must hold at least 7% of the assets as common equity (shares) this will cause more pain for the banks investors if the bank goes under and thus may prompt more involvment and oversight.
The second area of interest is that the new requirement would oblige banks to maintain reserves of at least 3 percent of total assets, including derivatives or other instruments that they might not carry on their balance sheets.
The continuation of the global shell game of banking will continue until those that hold the banks pulls the shells off all at once and revels that there is no money whatsoever backing up any of the currency or deposits in the world. This will be the global day of reckoning.
To protect yourself read Ellen Browns book THE WEB OF DEBT immediate. The get your wealth out of cash, stocks, bonds, and all other paper and electronic instruments designed to fool you inot thinking that there is something someone owes you for that hard earned wealth you handed over to them.
World Panel Backs Rules to Avert Banking Crises – NYTimes.com.