in fact, u.s. banks have raised more than twice as much capital as a percent of assets than european banks have over the two years since the financial crisis hit bottom. >> susie: now european officials suggested today, by the weekend, there will be a new bailout loan package for greece. how realistic is to expect with this new money that kbrooes will get its financial act together? >> i think that's a real stretch. greece has fundamental problems. it has an economy that is going downhill. every time they are obliged to take another knick out of spending, take a further axe to spending, it hurts their economy further. and that hurts tax revenues, and that means that the deficit reduction they're trying to achieve doesn't really happen. so greece is in a very difficult spot. and that means greek debt holders ultimately may suffer some losses. >> susie: so bring this all back here to the u.s. and to american investors. what does all of this uncertainty and turmoil in greece and throughout europe mean for a

being the chairman of the command and control federal reserve committee greece impact small for u.s. banks bernanke so this is ben bernanke speaking to the press he says we have asked the banks to essentially do stress tests and ask looking at all their positions all

according to the imf, u.s. bankslost about 7% of assets during the last crisis and a little bit more if you would do it in terms of risk-weighted as is sets. hence, if large banks are to meet the market-imposed my mum at the bottom of the cycle after losing 7% of assets, you would need about 15% at the top of the cycle to do that. if you use not the 8% capital for the largest banks, but the 10% at the same time for a larger sample of u.s. banks, then you would get, you'd get an answer closer to 17%. if you wanted to use the loss for the weighted average credit loss for all banks instead of u.s. banks, then it would be sort of 4%, and you'd get 12%. so you'd be somewhere between 12, 17% that was kind of using that methodology, that's kind of what you would come up with. well, it's reasonable to say that's a lot deferent than 7%. different than 7%. if you lost 5% during the next crisis, you'd be down to 2%. you don't have a lot, and you're not going to get a lot of lending when the banks have got 2%. a 2011 bank of eng

a major u.s. bank allegedly loses a billion dollar investment by libya putting the financial woes of the american and the libyan people in the same boat. we see what's happening is a shift towards a ground operation crushers a foreign minister slams in a first appointment of helicopters softer they hit their first targets in libya. a huge fire which the story down ammunition dump in central russia has been extinguished leaving over a thousand people injured. and a smart phones are not secure for some time as a moscow tech firm claims it can retrieve personal data from any device for some. worldwide news and live from moscow this is out well libya could be another name on the list of alleged victims of the giant u.s. investment bank goldman sachs is currently being investigated by the american government for its part in the two thousand and eight financial crisis it's supposed to be last i run a billion dollar investment made by aaa some three years ago but it's not easy marina porter reports from new y

a major u.s. bank allegedly loses a billion dollar investment by libya putting the financial woes of the american and libyan people in the same boat. we think what's happening is a shift towards a ground operation russia's foreign minister slams nato's deployment of helicopters after they hit their first targets in libya. a huge fire which destroyed an ammunition dump in central russia has been put out sleeping over eighty people injured. and smartphones all secure phones and moscow technology from the planes that can retrieve personal data from any device for a soft. international news and comment live from our studios here in central moscow this is r.t. libya could be another name on the list of alleged victims of the giant u.s. investment bank goldman sachs the bank is currently being investigated by the american government for its part in the two thousand and eight financial crisis it's supposedly lost a one billion dollar investment made by aaa three years ago but it's real important points from n

a major u.s. bank allegedly loses a billion dollar investment by libya putting the financial woes of the american and the libyan people in the same boat. a huge fire which has been raging for more than a day blew up and i mean isn't that know when central russia has been extinguished . and the smart phones on to secure phones as a moscow tech claims it can retrieve a personal data from any device for such. a very warm welcome to you this is r.t. live from moscow and the reception for libya could be another name on the list of alleged victims of the giant u.s. investment bank goldman sachs bank is currently being investigated by the american government for its part in the two thousand and eight financial crisis it's supposedly lost a one billion dollar investment made by tripoli three years ago but as a marine airport now reports from new york the bank is hardly concern. long before the u.s. led airstrikes against libya's moammar gadhafi the dictator and one of america's most profitable banks were finan

u.s. banking entity. in your opinion, should any sifi charge adopted under basel iii satisfy the requirement or should american banks be subject to a surcharge in addition to what's required under basel iii? >> well, i would first to governor tarullo i believe he said the fed is going to be making this up with basel iii. and at least for capital we all made a very conscientious effort to make sure that the standards are harmonized internationally. >> governor? >> welcome okay, i'm sorry, the sifi surcharge would be on top of basel iii. life of your question is what the fed have something in addition -- >> i think whatever the sifi charge is is the basel agrees to will be with the fed implements' year; is that correct rex yes. >> so in other words, well, maybe the fed should answer. the fed should answer, in other words, are you going to put an additional charge -- was in the data set feige for the banks? >> it would be an additional charge on top of the basel iii standards, but as chairman they're just not

a major u.s. bank allegedly loses a pretty good dollar investment by libyan putting the financial woes of the american on libyan people in the same boat. with what's happening is a shift towards a ground operation russia's foreign minister slams nato deployment of helicopters after they hit their first targets in. a huge car which destroyed it i mean in central russia has been put out some leading over eighty people. hundreds of gone through the jefferson memorial in washington d.c. claiming that holding that first amendment rights and similar action last week made to five or six. international using common life from our studios here in central moscow this is. libya could be another name on the list of alleged victims of the giant u.s. investment bank goldman sachs that bank is currently being investigated by the american government for its part in the two thousand and eight financial crisis it supposedly lost a one billion dollars investment made by three years ago but is marina portnoy reports from n

a major u.s. bank allegedly loses a billion dollar investment by libya putting the financial woes of the american and the libyan people in the same boat. a huge fire which as we know raging for more than exactly blew up and i mean even death row in the central russia has been extinguished leaving over eighty people injured. and the smartphones are not secure for the size of moscow tech fun claims it can retrieve personal data from any device or some. global news live from moscow this is artsy i'm a real researcher welcome to the program well libya could be another name on the list of alleged victims of the joint us investment bank goldman sachs and bank is currently being investigated by the american government for its part in the two thousand and eight financial crisis and its supposedly lost a one billion dollar investment made by tripoli some three years ago but it's also important i reports from new york the bank is hardly concerned. long before the u.s. led airstrikes against libya's moammar gadha

major u.s. bank allegedly loses a billion dollar investment by libya putting the financial woes of the american and libyan people in the same boat. when we think what's happening is a shift towards a ground operation. russia's foreign minister slams nato deployment of helicopters out of a hit their first targets in libya. a huge fire which destroyed an ammunition dump in central russia has been put out leaving over eighty injured. and footloose for freedom hundreds have been dancing their way through the jefferson memorial in washington d.c. claiming their holding their first amendment rights after five were arrested for similar action last week. international news and comment live from our studios here in central moscow this is r.t. libya could be another name on the list of alleged victims of the joint us investment bank goldman sachs the bank is currently being investigated by the american government for its part in the two thousand and eight financial crisis it's supposed to last a one billion do

basel iii standards were designed around a crisis experience of the largest active u.s. banksto allow the otc to support capital surcharge of common equity for a small number of the largest banks. that ad on should be modest given where capital requirements have moved. this is not to argue that surge charges should not be higher in countries where large institutions represent greater risk to the national economy particularly where the asset to the largest banks exceed national gdp like switzerland or the u.k.. the u. s has imposed statutory caps on the size of our largest firms and even the largest firms are only a fraction of gdp. 27 countries reached general agreement on the policies and standards outlined in basel iii but the details of its implementation will vary from country to country. you as implementation is likely to be more complex and impose additional constraints than in other countries owing to its interaction with dodd-frank. set a floor on capitol based on current basel and i standards and 9 u.s. banks are not based -- and with the simpler basel 1 framework sti

a major u.s. bank allegedly loses a billion dollar investment by libya putting the financial woes of the american and libyan people in the same boat. the huge fire which is mina raging for more than a day blew up the mission deco in central russia has now been pushed out. under smartphones are secure for the moscow take from claims it can retrieve personal data from any device for something. it's just after four pm on saturday here in moscow welcome to r.t. climbers will research a libya could be another name on the list of alleged victims of the us giant investment bank goldman sachs it's still being investigated by the american government for its part in the financial crisis it's supposedly lost a one billion dollar investment made by aaa some three years ago it was artie's marina portnoy reports from new york the bankers are hardly concerned. long before the u.s. led airstrikes against libya's moammar gadhafi the dictator and one of america's most profitable banks were first financial friends in two

top stories this are not major u.s. bank allegedly loses a billion dollar investment from libya's sovereign wealth fund goldman sachs is one of the banks are blamed for the recent economic crisis putting the financial woes of the american and libyan people in the same boat. meanwhile in libya nato helicopters have hit their first targets attacking colonel gadhafi forces near the port city of brega russia's foreign minister slammed the coalition's actions saying it's a signal ground operations in the country are looming. and a huge fire which has been raging for more than a day and destroyed an ammunition depot in central russia has been put out there still occasional explosions and the number injured in the incident is nearing ninety. eight with more but it's more news in this and fifteen minutes from now in the meantime it's a big night of european qualifiers especially for russia with news on that kate is next with the sport news. hello and thank you for joining me for the sports news and here are the top stories . the tri

goldman sachs one of the biggest u.s. banks admits to throwing away more than a billion dollars of libya's investments it comes as american moguls called the recently vilified could offer fair game for cash scams. emergency crews step of the earth firefighting efforts in russia's republic of the north here which has seen a spectacular but destructive artillery low. and secure no longer a high tech russian firm says it's bypassed the i phones much touted security protecting the handheld it's now offering to share a sensitive information including passwords from anyone's phone for a sizeable feat. so the top stories and sports next without a farmer. thanks for watching the sport and these are the headlines. on no one the federal and york of each is forty three not from the run to set up a french open final the defending champion that. was the end of five months when the streak against our media and you're a qualified. while russia's rugby team finalized their preparations on home soil ahead of the churchill cup in england. but fi

stories this hour nancy a major u.s. bank eventually loses a billion dollar investment from libya's wealth goldman sachs is one of the banks blamed for the recent economic crisis putting the time. woes of the american and libyan people in the same place. meanwhile in libya nato helicopters have hit their first targets attacking colonel gadhafi forces near the port city of brega russia's foreign minister slammed the coalition's action saying it's a signal that ground operations in the country are looming. a huge fire which has been raging for more than a day and destroyed in ammunition in central russia has been put out there is still occasional explosions and the number injured in the incident is nearing ninety. and hundreds of people gone through the jefferson memorial in washington d.c. claiming they are holding their first amendment rights and civil action last week led to five arrests. for full coverage of our top stories coming your way in just fifteen minutes from now with me now though it's time to dive into the world

>> we also do work with u.s. bank and j.p. morgan. which is helpful to have multiple banks behind you. >> what about wells? that's a local bank. >> we do various work with wells. they're active participants in your purchasing. we next are up for our renewal of the other $250 million, at which time we will again canvas the market. >> so after canvassing this is the best deal we can get? >> this is the best deal we can get to be able to lock in for three years and that's a very important time period for us for the program. >> is there a motion to adopt? >> so moved. >> i'll second. >> public comment on this item? hearing none, all those in favor -- >> aye. >> opposed? >> yes. >> motion cares. next item please, mr. secretary? [item 14 being read] >> todd read strofment assistant general manager and c.e.o. we were very fortunate to be awarded a $3 million allocation from the california energy commission. this allows us to be able to borrow at a low 3% rate over a 15-year term and instead of using fund balances which then we can use for oth

pose heard that the greek crisis poses to u.s. banks so is he on point or is he not a surprise that he said it in the q. and a he was asked whether the crisis could really affect u.s. banks and he said it would be a very small hit do you agree. completely disagree a big crisis has been seems to be another lehman brothers moment because what you have been greece is a situation where there are just kicking between and on the route if greece defaults it's not going to just affect rhesus going to search all your. bank's a little europe or very much exposed to greece banks from europe or very highly leveraged for example when lehman brothers collapsed they were leveraged thirty one to one which was absolutely horrible now german banks are actually a whole lot of greek debt and there are liberties thirty two to one at this point so greece goes don't it's going to ripple effects across the entire world and there are experts all throughout the financial industry that are warning that this could settle the mildred supposedly crisis and michael o

being the chairman of the command and control federal reserve committee greece impact small for u.s. banks bernanke so this is ben bernanke speaking to the press he says we have asked the banks to essentially do stress tests and ask looking at all their positions all their hedges what would the effect on their capital be if if greece defaulted the answer is that the effects are very small right now this is going to be a recurring theme throughout this entire portion of our program the fact that ben bernanke the law is i mean this is the beginning of all law because it doesn't mention the shadow banking system as it was described by former prime minister gordon brown when he says that the effects are minimal he's talking about the effects of what these banks report to regulators as being their balance sheet but we know now going back to two thousand and eight that they simply don't report trillions of dollars of liabilities on their balance sheet and then when these blow up they claim that the market did it we had no idea and bernanke you know this that's why i've been lanky at the end of t

he certainly is correct that u.s. banks don't hold a tremendous amount of those debts. that most of them are held by the national banks in those countries as well as other large european financial institutions. so if greece were to worst case scenario default, u.s. banks wouldn't see an enormous hit to stay solvent. however, like you said u.s. markets are another matter. what we actually saw last week was something that was quite squarey, some investors began to pull their money out of money market funds. you might remember from 2008 were a huge source of concern because people began to pull their money out that they began to lose money which is something that money market funds were never supposed to do. these are the funds you might get in your savings account. they pay small but they're supposed to be completely safe. so because a lot of these money market funds do hold european bank debts, not necessarily greek bank debts but debts in large european banks in france and germany which do have quite a bit of exposure to greece, investors began over the last couple of we

u.s. banking system have been tested. there is no longer a sense of banking problems. the u.s. may have some other issues to solve. in the european union, the banking crisis has been a lingering sense 2007 and has never been resolved. there have been different forms of stress tests. not entirely successful. we are in the midst of the third round right now. the results will be announced sometime in july, but we are some of -- we are still in the midst of a crisis that has not been resolved. the situation is slightly different in the u.k. and switzerland, but at the court of the euro zone, the crisis is there. the credits -- the europeans have made significant process in one -- progress in one area. that is changing the institutional architecture print the dodd-frank act has not touched too much the question of overlap between privatization of federal regulation agencies in the u.s. in europe, there has been a significant buildup of federal supervisory authority. the eu had a federal legislative framework, but no supervisory authority at eu level. they have not been created, not t

and a he was asked whether the crisis could really affect u.s. banks and he said it would be a very small hit do you agree or completely disagree big recross sometimes that seems to be another lehman brothers moment because what you have in greece is a situation where there are just kicking between and on the route if greece defaults it's not going to just affect rhesus going to search all of your. banks all over europe or very much exposed to greece and beings from europe are very highly leveraged for example when lehman brothers collapsed they were leveraged thirty one to one which was absolutely horrible you know german banks are actually a whole lot of greek debt and there are liberals thirty to one at this point so greece goes don't it's going to ripple effects across the entire world and there are experts all throughout the financial industry not a warning that this could set off the other two thousand and eight so crisis and michael another interesting thing that came out of this press conference of course he was not as a beat as he was the last

so it's a direct issue for the u.s. banks. >> reporter: there seems to be a lot of fear that we're going to have another lehman-type situation. if the numbers are out there, why is there so much discussion about this? >> because we did have a lehman. it was shocking. we're still trying to piece it all together and argue whether it should have happened or argue it or what not. the fact is this is not comparable in that sense. it's, a, much smaller, b, more transparent, c, far less interconnected by eons than the lehman financial system. that's not the diminished problem. it's in a box. we know what the box is. we just don't like what's happening in the box. greece, sadly, is becoming more of a solvency issue, not a liquidity issue. liquidity is attached to keep them solvent. lehman, i would have argued, was solvent, but there was a panic on the liquidity side, which may or may not have been kpexacerbad by government interference and the free markets being scare and uncerta uncertain. no sense going into that now. >> reporter:

u.s. banking entities. and in your opinion should any sifi charge adopted under basel iii satisfy that requirement, or should american banks be subject to surcharge in addition to what is required under basel iii? >> well, i would defer to governor tarullo. he has said that the fed will be making this up with basel iii. i think at least for capital we've all made this very, very conscientious effort to make sure that the standards are harmonized internationally. >> and, governor? >> well, okay. i'm sorry, the sifi surcharge will be on top of basel iii. i thought your question was would there be some in addition. >> no, no. >> i think whatever the sifi charges, the basel agrees to is what the fed implements year. is that correct? >> yes. >> in other words, maybe the fed should answer. >> the fed should answer. in other words, are you going to put an additional charge? when that it has advanced far banks? it would, ms. maloney got it would be an additional charge on top of the basel iii standards. but as chair

the headlines on our team and a major u.s. bank allegedly loses a billion dollar investment from libya's the sovereign wealth fund goldman sachs is one of the banks being blamed for the recent economic crisis putting the financial woes of the american and libyan people in the same boat. meanwhile in libya nato helicopters have hit their first targets. forces near the port city of brega russia's foreign minister has slammed the coalition's actions saying it's a signal that ground operations are looming in the future. and a huge fire which has been a raging for more than a day and destroyed an ammunition depot in central russia has been extinguished there are still occasional explosions on the number of injured the incident is nearing. the headlines on this saturday next it's kate with all the supporting us. hello and thank you for joining me on a big day of european football qualifiers and the latest final at the french open and here are the headlines targeting victory because i was to end a five month when a story as russia has don

government and the u.s. banks. as you can see, that's quite a small number when you compare it with countries like france and germany. well behind the european counterparts. this is what ben bernanke says to explain that. >> i think the europeans appreciate the incredible importance of resolving the greek situation. if there were failure to resolve that situation it would pose threats to the european financial system, the global financial system and to european political unity. it's one of several potential financial risks that we're facing now. but, again, we are mostly just following the situation closely and making sure as best we can that our own institutions are well position relative to sovereign debt in the so-called peripheral countries. >> now, although it's not officially on the agenda, greece's enormous debt burdenen is likely to be a talking point at the eu summit taking place today. they'll find it hard to avoid that particular elephant in the room. the chance -- this man announced he will not back the

u.s. banking regulators have warned that the cost to banks could disrupt the international banking system. traders in frankfurt and elsewhere are increasingly concerned about the potential effect of a disorderly greek deults on the mark. >> the chaos increase seems to be worse than expected and if it becomes impossible to control what is going on politically, europe will not be allowed to control the situation economically. that will mean we will have a situation that no one wants. >> some of the biggest holder of weak bonds include major french and german banks as well as leading insurers. it is impossible to to predict whether a restructuring the deb could bring down institutions. some european politicians are backing off from demands that bank and in shares shoulder part of the burden of show of -- of restructuring the debt. >> the european central bank president was in berlin this thursday for a courtesy visit ahead of his expected confirmation to the post. no official statement was released after the meeting between the president and angela merkel. they discussed the eek debt crisis a