NO, THE IMF DID NOT CRITICIZE HIGHER CAPITAL

Contra an M.M. headline on Friday, the IMF did not suggest in a paper that higher capital requirements lead to lower lending. Our bad. Per Better Markets’ Dennis Kelleher: “What I didn’t expect (when I finally got around to reading it) was it hyperlinked to nothing more than a working paper put out by the internationally non-recognized, non-known Mission Chief for the Cameroon and Central African Economic and Monetary Community. … Much more importantly, the first page of the working papers contradicts the MM title: It states in bold lettering that “This Working Paper should not be reported as representing the views of the IMF.” More here

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Read the full 3/23/2015 Morning Money by Ben White here.