Reuters: Regulatory News: US Fed's Dudley: case to be made for higher SIFI surcharge

Reuters: Regulatory News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

US Fed's Dudley: case to be made for higher SIFI surcharge May 22nd 2013, 12:08 NEW YORK | Wed May 22, 2013 8:08am EDT NEW YORK May 22 (Reuters) - A higher capital surcharge may be required of systemically important financial institutions, or SIFIs, New York Federal Reserve President William Dudley said. "One could make the case that an even higher SIFI surcharge may be appropriate," he said in a Bloomberg TV interview conducted on Tuesday but aired Wednesday. The international Basel III agreement requires a 2.5 percent capital surcharge of risk-weighted assets for the largest financial firms. But "even if we can't see every piece of risk, or if the bank's management makes a mistake, there is a lot more capital buffer available to absorb those shocks and prevent those shocks from reverberating across the financial system," Dudley added.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions