Fed to reduce big banks capital hike to 9% in latest Basel plan, Bloomberg says

The largest U.S. lenders could face a 9% increase in capital requirements after regulators agreed to major changes to a proposed package of rules, Bloomberg’s Katanga Johnson reports, citing people familiar with the matter. The original package proposed by the Federal Reserve, FDIC, and Office of the Comptroller of the Currency had called for a 19% increase in the capital that eight U.S. global systemically important banks must hold as a cushion against unexpected losses and financial shocks, the author notes. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC).