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2009-05-11 — ml-implode.com
" WSJ reports that after “intense bargaining,†the Fed “significantly scaled back†its estimates for banks’ capital shortfalls. Indicative of this was the unexpected change in its methodology for measuring bank capital. Instead of tangible common equity, the Fed used a less stringent measure it calls “Tier 1 Common Capital,†heretofore (virtually) unknown."
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