Chairman of the Federal Reserve backs Basel II for all US banks

Bernanke commented on the different issues facing smaller banks, and explained that the creation of a new category for such banks has already reduced requirements for data collection and reporting. Such changes reduce the costs borne by smaller banks and increase lending flexibility.

The Federal Reserve is also participating in an ongoing interagency review of banking regulations pursuant to the Economic Growth and Regulatory Paperwork Reduction Act. This review seeks to identify

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