Basel

Geithner Backs New Finance Rules, Extended Tax Cuts, to U.S. Lawmakers

International banking regulations agreed upon in Basel, Switzerland, last week will reduce the probability of a future financial meltdown, U.S. Treasury Secretary Timothy Geithner said before the House Financial Services Committee today.

Global Deal Reached on Bank Finance Reforms

The so-called Basel III reforms impose new rules for capital reserves that the world's banks would have to keep on hand as a cushion to avert future financial meltdowns. The G20 nations are expected to ratify the agreement at their meeting in November.

Deutsche Bank Plans $11.5 Billion Share Sale