U.S. Banks Must Meet Basel Mark as Small Firms Get Easier Terms
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U.S. banking regulators agreed to ease requirements for some of the smallest lenders in a new set of capital standards designed to prevent a repeat of the 2008 crisis that almost destroyed the world’s financial system.
The changes came in the latest version of rules released today by the Federal Reserve, a year after they were first drafted and a week after European counterparts finished their own review. The Fed votes on the 972-page proposal later today, with the Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency scheduled to follow by July 9.