RTTNews - Tuesday, Financial Services Authority Chairman Adair Turner said more capital is needed across the whole banking system.
Speaking to lawmakers, Turner said due to some positive signs in the economy, there could be some drawing back, while adding that authorities could even fail to take radical measures.
Turner said he preferred the ideas of U.S. Treasury Secretary Timothy Geithner that demands capital requirement to rise with the size of the bank and their risk activities. It is a tax on size, he said.
Further, he said considerable changes in remuneration especially of investment banks are needed.
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