On the 26th June the Basel Committee on Banking Supervision published its Revised Basel III Leverage Ratio Framework and Disclosure Requirements for Consultation. The Basel III Reforms introduced a leverage ratio into the regulatory framework. This was designed to serve as an important back stop to the risk based capital measures by constraining the build-up of leverage in the banking system and providing an extra layer of protection against model risk and measurement error. Since the Basel III Reforms were announced, the Committee has been working to formulate a leverage ratio requirement that is not only robust, but also internationally consistent given the underlying differences in national accounting standards. It was agreed in the Basel III Package that banks should start disclosing their leverage ratio, calculated on a common basis from the beginning of 2015. This consultative document sets out a specific formulation for calculating the leverage ratio by banks subject to the Basel III framework, as well as a set of public disclosure requirements. The final adjustments to the definition and collaboration of the leverage ratio will be made by 2017, with a view to migrating to a Pillar I treatment on 1st January 2018 based on appropriate review and calibration.