Fed governor Phillips calls capital rules a small burden.

Federal Reserve Board Governor Susan Phillips said capital regulations for banks do not appear to be overly burdensome.

Speaking to the Association of Bank Holding Companies in Tucson, Ariz., Ms. Phillips said the main capital burden under reforms scheduled to take effect next month is on 233 banks in three undercapitalized categories, but they hold less than 2% of total assets in system.

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