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Fed votes on bank liquidity rules

Wednesday, September 03 16:32:13

The U.S. Federal Reserve today voted to adopt final rules requiring big banks to hold more assets that they could sell easily in a credit crunch.

The rules, which call for big banks to hold enough liquid assets to meet their cash needs for 30 days, are a pillar of the response to the 2007-2009 financial crisis. The Federal Deposit Insurance Corp also plans to vote on the final rules today. For more, visit www.businessworld.ie