The United Kingdom's Parliamentary Commission in Banking Standards has criticised parts of the Government's proposed banking legislation as "too weak". The commission said nine areas in the Banking Reform Bill fell short of expectations.According to a report in the Financial Times, the commission's main cirticism was that the bill got banks' leverage ratio wrong. The proposed law says that a bank's equity capital must exceed three per cent of its assets, which is in line with Basel III rules. The commission would like to see a leverage ratio of at least four per cent.Reuters quoted Greg Clark, Financial Secretary to the Treasury, saying the Government would not change the ratio. "Our view is that at this the we should follow the international approach," Clark said.