The Federal Reserve and two other U.S. regulators are moving toward a new plan that would significantly reduce the nearly 20% capital increase imposed on the nation’s largest banks, following lobbying efforts by CEOs of the sector, as Jamie Dimon of JPMorgan Chase, the Wall Street Journal reported Sunday.
Senior officials from the three agencies involved in the pending capital rules – the Federal Reserve, the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) – are still discussing technical and substantive revisions and there is no guarantee that an agreement will be reached, the WSJ reported.
The Fed, FDIC and OCC did not immediately respond to requests for comment from Reuters.
The three banking regulators, led by the Fed, unveiled a proposal last July to revise the way banks with more than $100 billion in assets calculate the liquidity they must set aside to absorb potential losses.
