US regulators may cut bank capital hikes
==========
US regulators, including the Federal Reserve, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency, are considering reducing the steep increase in capital requirements for the largest banks in the country. The initial proposal of nearly 20% may be reduced to slightly over 50% of the original amounts for banks like JPMorgan Chase and Goldman Sachs. The changes come after pressure from industry players like JPMorgan Chase CEO Jamie Dimon. The concrete establishment of the new capital rules is still uncertain, as officials continue to negotiate modifications. The proposed changes are part of the Basel III regulators' efforts to increase banks' ability to cope with potential losses and minimize failures or bailouts. Major US banks argue that they are already sufficiently capitalized and that the changes are unnecessary. The banking industry has strongly criticized the Basel proposal, claiming that it would require alterations or the end of many products and services.
#UsRegulators #BankCapitalHikes #FederalReserve #FederalDepositInsuranceCorporation #OfficeOfTheComptrollerOfTheCurrency #JpmorganChase #GoldmanSachs #BaselIii #CapitalRules #BankingIndustry
https://www.wionews.com/business-economy/us-regulators-may-cut-bank-capital-hikes-723443
Oddbean new post about login | logout