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Sen. Shelby says favors tougher bank capital rules
WASHINGTON (Reuters) - The Senate Banking Committee's top Republican said on Wednesday that he supports an increase in the minimum capital ratio requirement for banks.
"I would like to see it go higher," the senator from Alabama told reporters after a committee hearing, in reference to the 7 percent threshold that is part of the Basel III capital accord.
That agreement - reached by international regulators - will be phased in from 2013 through 2019, and will require banks to maintain top-quality capital equivalent to 7 percent of their risk-bearing assets.
(Reporting By Alexandra Alper; Editing by Tim Dobbyn)
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