May 19 (Reuters) – The Federal Reserve and two other
U.S. regulators are moving toward a new plan that would
significantly reduce a nearly 20% mandated increase in capital
for the country’s biggest banks following lobbying efforts by
industry CEOs like JPMorgan Chase’s Jamie Dimon, the
Wall Street Journal reported on Sunday.
Top 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 substantive and
technical revisions and there is no guarantee that an agreement
will be reached, the WSJ reported.
The Fed, the FDIC and the OCC did not immediately respond to
Reuters’ requests for comment.
The three bank regulators, led by the Fed, in July last year
unveiled a proposal to overhaul how banks with more than $100
billion in assets calculate the cash they must set aside to
absorb potential losses.
(Reporting by Surbhi Misra in Bengaluru; Editing by Leslie
Adler)
