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Banking

US bank regulators to be grilled by Congress on capital hike plan

Federal Reserve Board Vice Chair for Supervision, Michael Barr, testifies before a Senate Banking, Housing, and Urban Affairs Committee hearing in the wake of recent bank failures, on Capitol Hill in Washington, U.S., May 18, 2023. REUTERS/Evelyn Hockstein/ Acquire Licensing RightsWASHINGTON, Nov 14 (Reuters) - The Federal Reserve's top Wall Street cop Michael Barr and other bank regulators will defend plans to hike U.S. bank capital requirements when they appear before Congress this week as they come under increasing pressure from many lawmakers to rein in their efforts.Barr, the Federal...
Finance

EU agrees mineral supply targets to cut reliance on China

European Union flags fly outside the European Commission in Brussels, Belgium November 8, 2023. REUTERS/Yves Herman Acquire Licensing RightsCritical minerals law likely to enter force early 2024Deal increases ambitions on recyclingAluminium and synthetic graphite added to key mineralsBRUSSELS, Nov 13 (Reuters) - Negotiators for EU governments and lawmakers reached a deal on Monday on targets for domestic supply of critical minerals such as lithium and nickel to reduce its reliance on third countries, principally China.The European Commission proposed the Critical Raw Materials Act in March, a centrepiece of EU strategy...
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