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New banking rules to curb risk!
I just found out that the new banking rules are going out to curb the risk... Maybe this has to do with ePass' bank in some way?
Read on:
Quote:
NEW YORK (CNNMoney.com) -- Global officials meeting in Switzerland Sunday announced new guidelines to strengthen the financial system by forcing banks to set aside more capital.
The goal is ensure that banks have bigger reserve cushions when things go bad and avoid another bank meltdown like the panic of 2008, which led to widespread credit gridlock and fueled the recession.
At the same time, the rules attempt to walk a delicate balance: Forcing banks to stash too much too soon in "rainy day funds" could crimp their ability to lend -- at a time when global credit has already contracted dramatically.
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read more on http://money.cnn.com/2010/09/12/news...dex.htm?hpt=T2
what do you think?
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