Adoption of capital requirements laid out by Basel III is an important step toward making the financial industry safer, Treasury Secretary Jack Lew told lawmakers this week. "I think the combination of implementing Dodd-Frank and complying with Basel III leaves the U.S. in a safer, sounder place," he said. He declined to comment on a proposal by Sens. David Vitter, R-La., and Sherrod Brown, D-Ohio, that would require higher levels of capital than those required by the banking accord.

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