Fed Urges Big Banks to Set Aside More Capital
The Federal Reserve unveiled a proposal on Tuesday that would require several of the nation’s largest banks to set aside even more capital than they already have.
According to CNN Money, the new requirement is called “capital surcharges,” and the amount each bank must put aside will be determined by a set of criteria defined by the Fed.
The eight banks that would be affected by the new regulations are JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs, Morgan Stanley, Bank of New York Mellon and State Street.
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