FDIC's Bair touts Basel's proposal on banks' capital

08/23/2010 | Reuters

Sheila Bair, chairwoman of the U.S. Federal Deposit Insurance Corp., wrote in a guest column for Financial Times that the Basel Committee on Banking Supervision's proposal for avoiding another crisis and overhauling the financial system is on track. "Cleaning up bank balance sheets and strengthening the quality and quantity of capital will not be painless," Bair wrote. "But if we fail to follow through in strengthening bank capital, we risk ... exposing the global economy to the onerous and indefensible costs of another financial crisis."

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