International Monetary Fund Managing Director Christine Lagarde addresses the Bretton Woods Committee annual meeting at World Bank headquarters in Washington May 21, 2014. REUTERS/Jonathan Ernst
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Progress in completing banking reforms to plug gaps highlighted by the 2007-09 financial crisis is too slow and is being hampered by fierce industry lobbying, the head of the International Monetary Fund said Tuesday.IMF Managing Director Christine Lagarde said banks were holding more capital now than they did in the runup to the financial crisis, when taxpayers had to shore up the sector.Lagarde also called for regulators across the world to agree a framework for winding down big banks that find themselves in trouble.
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