Reported 29 days ago
In a significant shift, the Federal Reserve has scaled back its initial proposal to raise capital requirements for banks, reducing the increase for major institutions like JPMorgan Chase and Bank of America from around 19% to 9%. The revised plan comes in response to concerns from politicians and the banking industry that stricter capital rules could hinder lending and negatively impact economic growth. The new rules will be opened for public comment before being finalized.
Source: YAHOO