“US banks are making a last-minute push to ease new global liquidity requirements, arguing that they would need to come up with an additional $800bn in easy-to-sell assets under the proposed standards.

The banks argue that they have increased their holdings of liquid assets by $700bn – or about half the $1.5tn shortfall identified in the US at the end of 2010. Rather than raising the difference, they want to relax new Basel III bank safety rules.”

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