US Fed's Ferguson backs new world bank rules

Roger Ferguson said on Thursday that criticism of the Basel II rules have not convinced the Federal Reserve that the agreement should be scrapped.

Source: Reuters

Federal Reserve Board Vice Chairman Roger Ferguson backed a proposed revision of global bank capital standards on Thursday.

Ferguson, speaking to a House Financial Services panel, said objections raised by some banks to the rule, known as Basel II because it would update the 1988 Basel Capital Accord, have failed to persuade the centra

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