Meanwhile, Ireland, the agency said, could claw its way back into the single-A rating band if a deal is struck to share the burden of its bank debts.

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He's also been serious about making sure that we get taxpayer money back, which is why he instituted the bank fee, to make sure that every single dime that went out from taxpayers comes back to the federal government.

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The single standard allows a bank to monitor its counterparty risks globally, streamlines back office processing and reduces costs in data management.

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