Some units are allowed to carry magic banners, as detailed in their army list entry. The only character permitted to carry a Magic Standard is the army's battle Standard Bearer.
Standards can only be carried by a standard bearer, as shown in the army list in the relevant Warhammer Armies book.
A unit with this standard gains a +D6 Combat Resolution bonus (roll each time it is used).
A unit with this standard gains +1 To Hit in the first round of close combat.
A unit with this standard gains the Stubborn special rule.
A unit with this standard gains the Terror special rule.
A unit with this standard can re-roll its charge distance dice.
A unit with this standard gains the Immunity (Psychology) special rule.
A unit with this standard gains the Armour Piercing (1) special rule.
A unit with this standard gains the Swiftstride special rule.
A unit with this standard gains a Ward Save (6+) against missile attacks.
A unit with this standard causes Fear.
A unit with this standard gains the Magic Resistance (2) special rule.
A unit with this standard adds +1 to combat resolution.
A unit with this standard gains the Immunity (Panic) special rule.
A unit with this standard has +1 Leadership, but cannot use the Inspiring Presence special rule. If a model with this special rule joins this unit, other units using their Inspiring Presence do not benefit from the +1 Leadership.
A unit with this standard re-roll failed Break tests.
A unit with this standard gains the Magical Attacks and Flaming Attacks special rules.
A unit with this standard gains the Magic Resistance (1) special rule.
A unit with this standard gains the Strider special rule. If the unit is riding a mount, the mount benefit from the Strider special rule as well.
A unit with this standard automatically pass any Rally tests.
One use only. A unit with this standard can re-roll its first failed Leadership test.
A unit with this standard causes Terror in models with the Fly special rule.