Major banks face higher capital requirements from US regulators

Michael Barr wants Wall Street banks to start using a standardised approach for estimating credit, operational and trading risks. (Image: Bloomberg)

Bloomberg

Wed, 12 Jul 2023

By Katanga JohnsonMajor banks are facing one of the biggest regulatory overhauls since the financial crisis, setting up a clash over the amount of capital that they have to set aside to weather tumult.The Federal Reserve’s top banking regulator, Michael Barr, said he wants Wall Street banks to start using a standardised approach for estimating credit, operational and trading risks, rather than relying on their own estimates. He added that the Fed’s annual stress tests should be rejiggered to better capture dangers that firms can fac...

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