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Basel II
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European Union regulators start implementing tougher global bank rules known as Basel III from January 2013 so that lenders can withstand market shocks better and are less likely to need taxpayers to bail them out. But not all the measures will be ready.
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While Dodd-Frank and the CARD act have paved the way for a new level of consumer protection, U.S. financial institutions will have some uncertainty as to their affect until the regulators solidify the rules behind them. Where in some cases Basel III is a step in the right direction, in others it could potentially make matters worse, Citigroup CEO Vikram Pandit said.
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