Geithner Optimistic On New Global Capital Rules

Law360, New York (September 22, 2010, 4:51 PM EDT) -- U.S. Treasury Secretary Timothy Geithner on Wednesday said domestic banks are in a strong position to integrate smoothly into new global capital standards, reassuring some House Financial Services Committee members who had expressed fear that the rules would put the U.S. at a competitive disadvantage.

Geithner said stress tests conducted in 2009, which compelled banks to raise enough capital to cover risks, should ultimately help enable them to meet so-called Basel III requirements, an international set of standards agreed to earlier this month by international financial...
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