(Reuters) – The Federal Reserve and two other U.S. regulators are moving toward a new plan that would significantly reduce a mandatory capital increase of nearly 20% for the nation’s largest banks, following lobbying efforts by industry CEOs such as Jamie Dimon of Wall Street’s JPMorgan Chase. Daily news on Sunday.
Senior officials from all 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 substantial and technical revisions and there is no guarantee that a agreement will be reached, the WSJ reported.
The Fed, FDIC and OCC did not immediately respond to Reuters’ requests for comment.
The three banking regulators, led by the Fed, presented a proposal in July last year to overhaul the way banks with more than $100 billion in assets calculate how much money they should set aside to absorb potential losses.
(Reporting by Surbhi Misra in Bengaluru; Editing by Leslie Adler)
