As a senior member of the House Financial Services Committee, I have been a key player on the Basel Accord, which will set new international risk-based capital adequacy standards for all internationally active banks and for all domestic institutions. Through Subcommittee hearings, correspondence, and informal meetings with regulators I have worked to ensure that U.S. institutions are not put at a disadvantage vis-a–vis their international competitors by these new standards, nor is one sector of the U.S. financial services industry unfairly disadvantaged by the new standards.
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