Geithner outlines implementation plan for reforms

Treasury Secretary Timothy Geithner said the country's overhaul of financial regulation will streamline the oversight of financial firms and won't layer "new rules on top of old." The law will be implemented quickly to ease uncertainty, he said. Geithner also explained that the most important aspects of global banking reform include requiring banks to maintain higher capital reserves, enacting greater liquidity standards, placing greater emphasis on common equity standards and requiring larger firms to hold a higher capital ratio.

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