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Irish Banks
Banking regulators 'agree new capital rules' package
IT IS REPORTED this afternoon that the governors of some of the world’s central banks – chaired by ECB president Jean-Claude Trichet – have agreed on sweeping new banking reforms that will require banks to hold more capital on hand to withstand shocks and potential runs on their assets. If true, the rules could have a major impact on Ireland where the government has already spent billions recapitalising banks substantially in order to balance their assets.
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