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Topic - Stephen Cecchetti
Global policymakers insist that the Federal Reserve's failure to implement new banking rules on time is nothing to worry about, but critics of the international plan to strengthen the financial system say this is evidence it's falling apart.
"Short delays measured in months of implementation of the standards seem to be not terribly important," Mr. Cecchetti said.
In the long run, banking regulators are still "on pace" to meet the requirements, Mr. Cecchetti argued.