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FSB's 'loss absorbing' rule could swamp debt market

Banks call for easing of regulation, wider range of securities to comply with proposed rule

Brussels

BANKS from Tokyo to London say the Financial Stability Board's plan for tackling too-big-to-fail banks may drown the corporate bond market in new paper and drive up funding costs for all companies.

With about US$4 trillion of instruments in the market that will fall under

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