In November of 2009, Charles Taylor, director of the Pew Financial Reform Project, wrote a letter to the editor of Financial Times advocating higher capital requirements for banks.

Even as some in Washington warned that raising reserves would hamper lending, Taylor argued that his group's research indicated raising capital requirements from 6% to 10% would bump up the price of loans only 0.2%. Congress and the Obama administration, he said, should be "confident that banks can move to a new capital regime."

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