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Fed wants more capital at largest banks

Federal Reserve Board of Governors member Daniel Tarullo, pictured in 2014, said the largest eight so-called global systemically important banks need firmer capital buffers for systemic safetyShares of the largest US banks fell Monday after the Federal Reserve’s main regulator proposed higher capital requirements for them. Stress tests for the banks — to see how they could ride out extreme crises — indicated that the largest eight so-called global systemically important banks (GSIB) need firmer capital buffers for systemic safety, Fed governor Daniel Tarullo said in a speech. The Fed would soon formally propose a “stress capital buffer approach” to replace a previous capital strength surcharge on large banks, he added.

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