WASHINGTON (July 9, 2013)--The Federal Reserve, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency took a step Tuesday toward requiring eight of the largest U.S. banks to meet a stricter measure of health to reduce the threat they pose to the financial system.
The regulators proposed that banks increase their ratio of equity to loans and other assets from 3 percent to 5 percent.
The banks' deposit-holding subsidiaries would have to increase that ratio to 6 percent.
If adopted, the rule would take effect in 2018 and would apply to U.S. banks considered so big and interconnected that each could threaten the global financial system--Goldman Sachs, Citigroup, Bank of America, JPMorgan Chase, Wells Fargo, Morgan Stanley, Bank of New York Mellon and State Street Bank.
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