U.S. regulator Hoenig urges exemption of some bank rules

April 15, 2015 2:15 PM

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WASHINGTON, April 15 (Reuters) - Traditional banks shying away from risky trading activities should be exempted from some of the new rules put in place to prevent a repeat of the credit crisis, a top U.S. regulator said on Wednesday.

Such lenders could be freed up from having to meet the Basel III capital rules and from a number of intrusive reporting requirements, Federal Deposit Insurance Corp Vice Chairman Tom Hoenig said at a conference.

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