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Sun Jan 6, 2013, 06:53 PM

Top Regulators Give Banks a Bit of Breathing Room

Source: NYT

Banks around the world will have more leeway in meeting new rules designed to prevent future financial crises, after a decision Sunday by a group of top central bankers and regulators who said they wanted to avoid restrictions that might damage the economic recovery.

Meeting in Basel, Switzerland, a committee that included Ben S. Bernanke, the chairman of the U.S. Federal Reserve, and Mario Draghi, the president of the European Central Bank, extended the transition period for the new rules, which are meant to make sure banks have enough liquid assets on hand to survive the kind of market chaos that followed the collapse of Lehman Brothers in 2008.

Besides extending the timetable, the panel — which also includes top bank regulators from 26 large countries — loosened the definition of what constitutes liquid assets. The decision takes some pressure off banks, which have complained that new guidelines will throttle lending and hurt economic growth.

Mervyn A. King, governor of the Bank of England and chairman of the group, said there was no intent to go easier on lenders. “Nobody set out to make it stronger or weaker,” he said of the rules during a conference call with reporter, “but to make it more realistic.”

Read more: http://www.nytimes.com/2013/01/07/business/global/07iht-banks07.html?pagewanted=all

9 replies, 1658 views

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Reply Top Regulators Give Banks a Bit of Breathing Room (Original post)
alp227 Jan 2013 OP
OnyxCollie Jan 2013 #1
Chakab Jan 2013 #2
2pooped2pop Jan 2013 #3
woo me with science Jan 2013 #4
sleestak smile Jan 2013 #6
sleestak smile Jan 2013 #5
progressoid Jan 2013 #7
yurbud Jan 2013 #8
Scuba Jan 2013 #9

Response to alp227 (Original post)

Sun Jan 6, 2013, 06:59 PM

1. Laws, rules, and regulations are for the little people. nt

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Response to alp227 (Original post)

Sun Jan 6, 2013, 07:12 PM

2. Why do they even bother with the pretense that

they're "regulating" these institutions at all?

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Response to alp227 (Original post)

Sun Jan 6, 2013, 07:36 PM

3. The ONLY reason to give banks more breathing room,

is to get the noose tighter.

May they all die the horrible deaths they dream of for us.

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Response to alp227 (Original post)

Sun Jan 6, 2013, 09:10 PM

4. It's all because they're looking out for us.

I hear the chocolate ration will be increased!

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Response to woo me with science (Reply #4)

Sun Jan 6, 2013, 09:34 PM

6. choco ration increased 20%!

 

double plus good!

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Response to alp227 (Original post)

Sun Jan 6, 2013, 09:34 PM

5. So more financial deregulation is the answer? what a crock

 

who's actually believes that financial deregulation is the answer?
sure worked for Worldcom, Lehman Bros., Enron, etc.

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Response to alp227 (Original post)

Mon Jan 7, 2013, 12:03 AM

7. Thank God.

I was worried that the banks wouldn't be able to make any money!

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Response to alp227 (Original post)

Mon Jan 7, 2013, 12:28 AM

8. they don't need "breathing room," they need a pillow held over their faces until they stop breathing

metaphorically of course.

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Response to alp227 (Original post)

Mon Jan 7, 2013, 07:19 AM

9. Breathing room? Can't we suffocate them instead?

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