Obama to renew call for stricter capital levels
The Obama administration is set to renew its push for higher capital requirements for banks at home and internationally as the main thrust of regulatory reform - a strategy that could get round the gridlock in Congress. Washington's emphasis on capital has met resistance from some European countries and Japan. After last year's stress tests and forced capital raisings, some US institutions look healthier than their overseas counterparts. A gruelling debate inside the Senate banking committee has raised the question of whether Congress can deliver a bill that President Barack Obama would be prepared to sign.