CAMBRIDGE, Mass. Sept 15 The U.S. Comptroller of
the Currency on Thursday defended capital requirements and other
standards for banks and said they have made the institutions
more competitive coming out of the financial crisis.
Speaking at an evening event at Harvard University, the
comptroller, Thomas Curry, whose agency regulates national
banks, said it would be a poor time to relax rules, as some have
"Now is not the time to change course," said Curry,
according to his prepared remarks.
He cited improvements to bank balance sheets such as that
Tier 1 common equity is now about 13 percent of risk-weighted
assets, up from 9 percent in late 2008, while the leverage ratio
is now at 9.3 percent, about a third higher than in 2008.
Against foreign banks, "The high standards here in the U.S.
have made our banks stronger in absolute terms and in
comparitive terms, " Curry said.
In August, the Bank of England eased a broad measure of
capital adequacy for banks to help avoid crimping the flow of
credit after the vote in June to leave the European Union. (reut.rs/2alqlXk)
(Reporting by Ross Kerber in Cambridge, Mass.; Editing by