U.S. banks could face capital hikes of as much as 20% under new rules being prepared by U.S. regulators as part of a global effort to harmonize capital requirements, a person familiar with the matter said on Monday.
U.S. regulators, led by the Federal Reserve, are expected to unveil the proposed tougher requirements by the end of this month, according to this source, who spoke on condition of anonymity.
The proposal is expected to implement a final batch of global bank capital rules laid out by the Basel Committee of banking regulators that are due to take effect at the beginning of 2025.Michael Barr, the Fed's top regulatory official, told Congress last month that the central bank would likely unveil its plan tocapital rules for banks this summer and ensure supervisors more aggressively police lenders following the bank failures.
Randal Quarles, who led Fed regulations before Barr, cautioned in a 2021 speech that fully implementing the remaining Basel requirements could result in capital requirements increases of as much as 20% for the largest banks. The Wall Street Journal reported that the precise amount of capital requirements will depend on a bank's business, with U.S. megabanks with big trading businesses expected to face the largest increases.
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