U.S. regulators says Basel will make banks more sound

WASHINGTON (BestGrowthStock) – U.S. bank regulators on Sunday welcomed a global bank safety accord, saying it would protect against future financial crises like the one that rocked global markets from 2007 to 2009.

“The agreement represents a significant step forward in reducing the incidence and severity of future financial crises,” the Federal Reserve, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp said in a statement.

(Reporting by Mark Felsenthal, editing by Maureen Bavdek)

U.S. regulators says Basel will make banks more sound