Former FDIC Chief Bair Calls for Stiffer Rules on Leverage
By Bradley Keoun & Bob Ivry
Published December 7 2011 Bloomberg
Former Federal Deposit Insurance Corp. Chairman Sheila Bair, in testimony to U.S. lawmakers, pushed for stiffer global limits on how much banks can borrow. The leverage ratio adopted by the Basel Committee on Banking Supervision needs to be increased, Bair told the Senate Subcommittee on Financial Institutions and Consumer Protection. She also urged regulators to consider “starting over” on the language of the Volcker rule as the panel held a hearing today in Washington on “Wall Street megabank risk.”
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