By Alan Zibel, Of DOW JONES NEWSWIRES
GOT THIS THROUGH PRIVATE SKYPE CHAT, SO I DON'T HAVE A LINK.....
WASHINGTON -(Dow Jones)- The Federal Reserve said Wednesday it would propose new regulations for banks' capital cushions next week as part of an international agreement to make sure the world's largest banks can withstand heavy losses.
The central bank said it would propose rules that would implement a set of international bank rules known as Basel III at a public meeting on June 7. The rules are intended to make sure banks are strong enough to endure a severe shock, such as during the 2008 financial crisis.
Late last year, the Fed said it supported a new global framework set out by regulators in Basel, Switzerland, that requires the world's biggest financial institutions to hold extra capital as a cushion against losses.
In doing so, the central bank rejected arguments made by the largest U.S. banks, which contended the rules could harm the economy by reducing their capacity to lend.
-By Alan Zibel, Dow Jones Newswires; 202-862-9263; email@example.com
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