Basel III goes too far, GFMA says

09/1/2011 | TheDeal.com (free registration)

The Global Financial Markets Association voiced concerns about the Basel Committee on Banking Supervision's efforts to raise capital requirements for banks and impose additional surcharges on systemically important financial institutions. In a joint filing with AFME, SIFMA and ASIFMA, GFMA warned that Basel III rules could hinder lending and economic growth. "GFMA believes the current proposal should be fundamentally revised and re-proposed."

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