Banks say new capital requirements are unfair

11/1/2006 | Wall Street Journal, The

A number of large banks, including Citigroup Inc., Wachovia Corp. and J.P. Morgan Chase & Co., are angry over new rules that would require them to keep at least 5% of their assets on hand. The banks say the rules put them at a competitive disadvantage to overseas banks and will lead to higher loan rates or lower profit.

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