U.S. Fed Instructs Big Banks Not to Push Back Aggressively on New Capital Rules
The U.S. Federal Reserve has informed major banks not to aggressively challenge new capital rules, following relaxed drafts of Basel III and GSIB surcharge rules. The changes are expected to reduce capital levels at big U.S. banks by around 4.8%, though some banks, like JPMorgan, may see an increase. The industry previously fought the 2023 plan with significant lobbying efforts.
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Topics: bank regulation Basel III capital rules Federal Reserve JPMorgan regulatory compliance