Banks worldwide need to strengthen their balance sheets to stabilise the financial system, senior U.S. regulators said on Tuesday.
With global bank standard-setters hammering away at new capital rules, US Federal Reserve Governor Daniel Tarullo told a Senate panel that large financial institutions need to hold more capital to weather tough times.
"Our view is that large institutions should be sufficiently capitalised so that they could sustain the losses associated with a systemic problem," Tarullo ...
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Added July 20, 2010
from Businessday Nigeria