Future profit can be used to meet Basel III, Geithner says

09/22/2010 | Bloomberg

Treasury Secretary Timothy Geithner said banks will be able to tap future profit to comply with capital rules in Basel III. Geithner said banks will not have to rein in lending to meet the higher capital requirements. "The U.S. financial system is in a very strong position internationally to adapt to the new global rules," Geithner said. "For the most part, banks should be able to meet these new requirements through future earnings, which will help protect the recovery currently under way."

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