Included among the covenants of the credit agreement was a requirement that Knight maintain certain levels of capital for its broker-dealer subsidiaries, which the company might be unable to meet, following the three-day settlement of its erroneous trades, without securing additional capital from outside.

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The two men talked about capital requirement rules for financial institutions, and regulating trading of financial products and over-the-counter derivatives in particular, according to a statement issued by Mr. Barnier after the meeting.

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If strategies are available to get more monthly income with no risk or requirement to add capital, why not find the loophole and take advantage of it?

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The rules could mean a Tier 1 common risk-based capital ratio requirement to 7% and an addition a surcharge of up to 2.5% for the most complex financial firms.

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Indeed, their capital-adequacy requirement was reduced earlier this year so that they could make more of an effort to bolster the housing market.

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Which is what all of the Basel negotiations have been about and where we get that 7% requirement for Tier 1 capital from.

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As part of the package of new standards, banks will be required to increase their minimum common equity requirement from 2% to 4.5%, and will additionally have to hold a capital conservation buffer of 2.5%, "to withstand future periods of stress, " the Basel Committee said in a press release.

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