The opening price on the E-mini S&P today was (1798). The day’s high price was (1798.75) at 11:15 a.m. US/Eastern time. At 3:35 p.m. US/Eastern time, the low price of the day was (1784.75). Eric Rosengren, president of the Boston Federal Reserve Bank, came out in support for the narrower definition of capital under the global Basel III framework. In July, the Fed adopted the global Basel III rules in a commitment to draft tougher capital requirements for the largest banks. Basel III will force most banks to hold about three times as much top-quality capital as is required under existing rules, to reduce their risk and protect taxpayers from costly bailouts. The Federal Reserve Board will be required to undergo annual stress tests using three economic and financial market scenarios. Only a summary of the three official Fed scenarios would be made public. The rules would apply not only to banks but, also to all institutions with more than US$50 billion in assets. The Fed will begin implementing the Basel III framework in early 2014 and is expected to be fully implemented by 2019.