Two industry organizations that represent some of the largest banks in the world, including Deutsche Bank, JPMorgan Chase and Citigroup, voiced concerns about new capital guidelines. The groups warned that the guidelines could harm economic growth, alter the financial industry's competitive field and reduce lending. "There is a real tension between the regulators and the largest global systemically important institutions," said Margaret Tahyar, a partner at Davis Polk & Wardwell. "Capital is almost being used as a punishment."

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