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Sherrod Brown

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BOE's Haldane Says Brown-Vitter Proposals Have Attractions

Radical proposals to force big U.S. banks to raise their capital levels substantially have merit but may not be practical in the short term, a senior Bank of England official said.U.S. senators Sherrod Brown and David Vitter published a bill in April that would require lenders with more than $500 billion of assets to operate with 15% equity capital, far higher than the 3% leverage ratio recommended by international capital accords known as Basel III.Andrew Haldane, the BOE's executive director for financial stability, said in a paper published by the central bank Thursday that the Brown-Vitter proposal "has attractions" in terms of its simplicity and the robustness it would bring to the financial system.He added the proposals are so far north of existing capital standards, however, that "they are perhaps at best seen as a possibly distant long-term resting-place, not a practical near-term objective."Mr. Haldane delivered an outline of his paper in Atlanta, Georgia, April 9.The bulk of ...

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  1. Bipartisan Bill Eyes More Capital For Big Banks

    Two senators on Wednesday introduced a bill to limit too-big-to-fail banks, including a provision that would require large financial institutions with more than $500...

  2. Senators Detail Bill To Limit Big Banks

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