8 largest US banks' proposed capital requirement increase reduced from 19% to 9% under Basel III framework.

The Federal Reserve, FDIC, and OCC have reduced the proposed capital requirement increase for the eight largest U.S. banks from 19% to 9%, following significant lobbying from the banking industry. This revision, part of the Basel III framework, aims to enhance bank resilience against financial shocks. A 60-day comment period will precede potential final adoption, which may not occur until next year. Further updates are expected from Fed officials soon.

September 09, 2024
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