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Tuesday, October 30, 2012

Community Bankers Petition Against Basel III

Over 16,000 community bankers and their supporters have signed a petition—located on the Independent Community Bankers of America (ICBA) website—to request that the Federal Reserve OCC, and FDIC exempt community banks from the Basel III capital standards.

Community bankers have argued that the higher capital requirements laid out in Basel III should not apply to smaller banks, noting that Basel III was original designed to apply to the largest, systemically important and internationally active banks. The petition remarks that imposing the Basel III capital standards on community banks will threaten the nation’s economic recovery and limit lending, investment, and credit availability.

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