Newsletter July/August 2010: Robust rules must allow national flexibility – US Fed

WASHINGTON – Although it is critical that a robust, common set of capital and liquidity rules for internationally active banks be adopted globally, there must also be sufficient flexibility to allow the rules to be tailored to national conditions, according to US Federal Reserve governor Daniel Tarullo. He was giving testimony in mid-July before a sub-committee of the powerful Senate Banking Committee. Lawmakers were holding hearings on international cooperation and financial regulatory modernisation.