Jul
21
Federal Reserve Approves Capital Restraints for Big Banks
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JPMorgan Chase would need to increase capital by an estimated $12.5 billion, according to a Fed official.CreditMike Segar/Reuters
Nearly eight years after panic on Wall Street tipped the country into a severe recession, federal regulators are still trying to minimize the risks to the overall economy posed by large banks.
The Federal Reserve introduced new restraints on Monday that would apply solely to the nation’s eight largest banks, which hold more than $10 trillion in loans and securities. The banks include big Wall Street firms like Goldman Sachs, Citigroup and JPMorgan Chase, which currently faces an estimated $12.5 billion financial shortfall under the new rules…
Federal Reserve Approves Capital Restraints for Big Banks
