"... it appears basically banks will need to hold a certain % of...

"... it appears basically banks will need to hold a certain % of their assets in safer assets, which is basically gold."

right on the first point but not quite right on the second.
Allocated gold i.e.gold with legal title of ownership will hold equal status in banking with cash. i.e. Tier 1 assets.

Unallocated gold i.e. gold used to "back" paper gold derivatives, which are held in trusts like GLD and SLV, where shares in the trust follow the gold price but do not guarantee the investor any path to conversion into physical gold, are to be downgraded drastically.
this is all about banks stability.
The bullion banks in the LBMA are leveraged around 100:1 with their paper gold derivatives scheme. they are not going to be able to continue it unless they buy huge amounts more gold. they are currently lobbying the Bank of International Settlements BIS to be exempted from the new Net Stable Funding Ratio (NSFR) regulations, and the World Gold Council is lobbying the Bank of England to "do something" to save the bullion banks from this existential threat.

there is the possibility that they will just refuse to fall into line with the BIS NSFR regulations, and the BIS can't force them to. However if they refuse, it will look very bad for them, and their unallocated gold schemes.
this is potentially " the straw that breaks the camel's back" to release the price of gold from the chains of LBMA and COMEX suppression, and silver as gold's fellow traveller. these two organisations have worked hand in glove with each other for decades to hold gold and silver down.