Federal Deposit Insurance Corp. (FDIC) Chairman Sheila Bair said Wednesday that the Basel Committee on Banking Supervision's new capital plan should have been tougher.

"The standards are not as high as many of us would have liked. But it was important to achieve international agreement," Bair said of the Basel plan in prepared remarks to a Mobile, Ala., economic conference. "And there should be no doubt that these new standards are a major improvement over current requirements."

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