Wall Street Gives the Fed an Earful on Counterparty Credit Limits

Receiving Wide Coverage ...

Counterparty Credit Limits: Today several financial services CEOs will meet with Fed Governor Daniel Tarullo to plead their case against (among other things) the regulator's proposed rule limiting banks' exposure to one another. Under the rule, credit to any counterparty would be capped at 25% of regulatory capital for most institutions and 10% for the biggest ones. The FT reports on "strident" comment letters about the proposal sent to the Fed by…

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