"The US Federal Reserve on Tuesday moved to toughen capital requirements for the country's largest banks, saying their size and stretch could threaten the overall financial system.
"The Fed said it was preparing to implement new capital and liquidity rules outlined by an international banking pact on nearly three-dozen banks with assets over $50 billion.
"Rebuffing resistance from some of the country's most powerful financiers, the Fed said it would apply the extra-tough standards of the Basel III pact on 29 "globally systemically important banks."
[LOL right. I'm sure there was reistance. To which the FED said, "We are the Borg."]