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The U.S. Federal Reserve is considering a rule change that could save the country's eight largest banks, including JPMorgan Chase, Citigroup, and Bank of America, combined billions of dollars in capital. This potential update involves modifying the calculation of the Global Systemically Important Banks (GSIB) surcharge, aligning it with economic growth and adjusting the banks' size relative to the economy. This move could represent a significant win for the banking industry, which has long sought such changes. Federal Reserve Chair Jerome Powell indicated that U.S. regulators are close to agreeing on these changes.
Is the Fed easing capital rules to incentivize large banks to buy more bonds...? The U.S. Federal Reserve is considering a rule change that could save the country's eight largest banks combined billions of dollars in capital, in a potential long-sought win for the industry,… https://t.co/hXfwg3xiu0
Federal Reserve Chair Jerome #Powell said US regulators are close to agreeing to changes to plans to force big banks to hold significantly more capital.
Exclusive: Fed may tweak rule that could save biggest US banks billions https://t.co/4xab82CY6H https://t.co/AyzBA0yqmt
