A global agreement to end the long-standing treatment of all government bonds as automatically risk-free for banks will take some time, if it happens at all, the chairman of the Basel Committee on Bank Supervision said Friday. The Switzerland-based group that sets global banking rules has launched a review into how regulators should treat holdings of government bonds, and any change could force banks to raise billions of dollars in extra capital. But any agreement among regulators is unlikely to be reached soon, Stefan Ingves said during a conference hosted by Germany’s central bank. “We’re working on the issue,” Mr. ... (full story)