Basel Approval Draws New Battle Lines; Big Deal in Asia

Receiving Wide Coverage ... We've Only Just Begun: The Federal Reserve's approval of the Basel capital rules for U.S. banks drew the most attention from the major dailies. The upshot of the coverage is that the rules generally turned out as expected, though small and midsize institutions dodged some bullets. Perhaps most importantly, major fights lie ahead for big banks over several additional rules in the works — such as efforts to toughen the leverage ratio. …