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The American lobby has agreed to the possibility of reducing capital requirements for banks

The American lobby has agreed to the possibility of reducing capital requirements for banks

According to a report published by the Wall Street Journal on Sunday, the Federal Reserve and two other US regulatory agencies, the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC), are developing a new proposal that would significantly… This reduces the required increase in capital for the largest banks in the United States by about 20 percent.

Officials from the three agencies involved—the Federal Reserve, the Federal Deposit Insurance Corporation, and the Securities and Exchange Commission—are currently negotiating potential substantive and technical changes to the capital rules. According to a Wall Street Journal report, there is no guarantee that they will eventually reach an agreement.

The Federal Reserve, the Federal Deposit Insurance Corporation (FDIC) and the Securities and Exchange Commission (OCC) have not yet responded to Reuters' inquiries about their plans.

Last July, these banking supervisors, led by the Federal Reserve, proposed how banks with assets of more than $100 billion should determine how much cash they should set aside to cover losses.

Source: Reuters

Cover image source: Shutterstock

This article does not constitute investment advice or investment recommendations. Detailed legal information

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