FDIC's Bair says major banks to face tougher rules

10/22/2010 | Reuters

Sheila Bair, chairman of the Federal Deposit Insurance Corp., said that major banks likely will be required to meet higher capital standards than those outlined in the global Basel III rules. "I have fairly high confidence there will be higher capitalization requirements for systemic institutions," Bair said. She also scrutinized the Basel III rules, saying they aren't as tough as she would like.

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