US moves to soften capital rules: ‘Big banks can declare mission accomplished’
by Lauren Aratani from US news | The Guardian on (#74BWX)
Fed officials expected to lower capital requirements for banks such as Goldman Sachs and JPMorgan Chase by 4.8%
US federal regulators are trying to soften bank requirements, loosening the amount of capital US banks must have, in what would be some of the biggest changes to bank restrictions since the 2008 financial crisis and a huge win for financial institutions.
On Thursday, US Federal Reserve officials are expected to vote to lower capital requirements - the funds they need to cover risky assets - for the biggest banks by 4.8%, which could free up capital for banks such as JPMorgan Chase, Goldman Sachs and Morgan Stanley.
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