Daily News: July 2, 2013

Fed Voting to Bring Capital Rules in Line With Basel

Bloomberg reported that U.S. banking regulators seeking to prevent another global financial meltdown are set to impose new minimums for capital amid predictions that smaller lenders will get easier terms.

Bloomberg said the Federal Reserve will vote on a measure that could call for banks to maintain loss-absorbing capital equal to at least 7% of risk-weighted assets, in line with international standards agreed upon by the Basel Committee on Banking Supervision. After the Fed’s vote, the FDIC and OCC also must vote on the new standards.

To read the full Bloomberg story click here.