Daily News: October 22, 2012

Regulator Urges Small Bank Exemption from Basel III Rules

Bloomberg reported that New York banking superintendent Benjamin Lawsky said capital ratio requirements being considered by federal regulators should be eased for community banks with less than $10 billion in assets.

According to Bloomberg, Lawsky wrote to U.S. bank regulators in Washington, who are incorporating so-called Basel III capital rules into regulations under the Dodd-Frank law on banking, Wall Street and consumer protection. Proposed regulations on risk-weighted assets would place an undue burden on community banks, Bloomberg cited him as saying.

To read the full Bloomberg article, click here.