December 19, 2011
The US Federal Reserve is expected to embrace a new global framework that requires giant financial institutions to hold extra capital, The Wall Street Journal reported Monday.
Citing unnamed people familiar with the situation, the newspaper said the Fedâ€™s decision to accept the rules laid out by regulators in Basel, Switzerland, could come before Christmas.
It is a defeat for big US banks that argued the guidelines neednâ€™t be so strict, the report said. They contended the Basel approach could prompt them to reduce lending and hurt the economy.
This article was posted: Monday, December 19, 2011 at 9:40 am