World Panel Backs Rules to Avert Banking Crises - NYTimes.com: "BASEL, Switzerland —Top central bankers and bank regulators agreed Sunday on far-reaching new rules for the global banking industry that are designed to avert future financial disasters, but could also dampen bank profits and strain weaker institutions.
Officials confirmed that the panel of financial authorities from 27 countries had reached agreement Sunday afternoon and would release details later Sunday. The group includes Ben S. Bernanke, chairman of the Federal Reserve, and Jean-Claude Trichet, president of the European Central Bank."
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