What they cannot do is reduce work below the work required in the work requirement in the reform statute.

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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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Conservatives celebrate this as an increase in freedom because workers can no longer be required to pay for union services as a requirement of their employment.

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