NEW YORK (Reuters) – The Federal Reserve’s regulatory chief on Tuesday outlined a sweeping overhaul easing two major draft bank capital rules following intense industry opposition that delayed the projects and sparked divisions among the top federal banking regulators.
Shares of major U.S. banks fell after Fed Vice Chair for Supervision Michael Barr unveiled the plan for the so-called Basel endgame bank capital hike.
#banks #federalreserve #stocks
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