Sens. Urge Regulators To Review Basel Impact On Small Banks

Law360, Washington (September 27, 2012, 7:08 PM EDT) -- A bipartisan group of 53 senators urged U.S. bank regulators in a letter Thursday to consider the ramifications Basel III capital rules meant for large financial institutions could have on smaller, community banks, saying a one-size-fits-all solution won't work in the U.S. banking sector.

The group, led by Sens. Mark Warner, D-Va., and Pat Toomey, R-Pa., noted that raising funds can be challenging for community banks, which have little or no access to capital markets, and the new requirements could cause smaller institutions to limit their...
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