Stock market data from major financial news websites or stock exchanges.

Fed and Regulators to Reduce Nearly 20% Capital Increase for Big Banks, WSJ Reports

May 19, 2024, 01:35 PM

The Federal Reserve and two other U.S. regulators are moving toward a plan that could significantly lessen a proposed capital increase of nearly 20% on the biggest U.S. banks, WSJ reports. Required increases in capital would on average be about half as much as originally floated. This reconsideration represents a shift in the balance of power between big banks and their regulators, turning the page on an era in which the Fed held the upper hand. Jamie Dimon and other bank CEOs have played a role in fending off tougher capital rules.