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Morning briefing: Mixed reaction to new banking rules

1. Global markets rose Monday on the news that regulators had agreed on new rules to help strengthen banks and avoid another financial crisis.

The European Commission welcomed the capital strengthening rules and said they will increase stability.

But the French banking federation said they could hamper growth by lowering lending.

A special adviser to the International Monetary Fund noted that banks in Asia have high capital ratios so they will be able to avoid the degree of fundraising needed elsewhere to meet a new international standard.

2. The European Commission almost doubled its GDP forecasts for the euro zone in 2010.

3. Oil prices jumped above $77 a barrel on trading in Asia on Monday following a leak that forced the closure of an oil pipeline near Chicago.

By Ariana Eunjung Cha  |  September 13, 2010; 8:05 AM ET
Categories:  *Morning briefing  
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Next: Geithner pushes Obama's economic agenda with Hispanic Caucus

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