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Politics : American Presidential Politics and foreign affairs

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From: DuckTapeSunroof	5/14/2010 8:26:45 PM
	of 71588

Measure to boost capital levels passes Senate WASHINGTON Thu May 13, 2010 7:26pm EDT reuters.com WASHINGTON (Reuters) - Large financial firms would have to set aside more capital to boost their stability during times of crisis under a measure unanimously adopted by the Senate on Thursday as part of a sweeping rewrite of banking rules. The measure, which passed by voice vote, would direct regulators to increase capital requirements as firms grow in size or engage in riskier lending practices. It would ensure that bank holding companies and other firms operate under standards at least as stringent as those applied to insured banks. The measure, sponsored by Republican Senator Susan Collins, aims to make sure that highly leveraged financial giants do not again threaten the stability of the system as a whole, as they did during the 2008-2009 financial crisis....

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