Across the pond27 Jul 2023 10:31
Just to mention this Bros
US regulators Voting today on the Basel 111 endgame..
"Wall Street’s biggest banks are preparing for new regulations that could erase almost all of the $118 billion in excess capital they squirreled away over the past decade, likely crimping shareholder buybacks for years to come.
The Federal Reserve and the Federal Deposit Insurance Corp. will vote on Thursday to propose the measures during two separate open meetings, marking the first hurdle in putting the US on track to adopt its final version of international banking standards known as the Basel III endgame"...
"US banks may take up to 4 years to set aside profits for new capital rules"...
"NEW YORK, July 25 (Reuters) - U.S. banking giants may take up to four years to set aside profits to meet new capital rules, according to a report by Morgan Stanley.
U.S. banking regulators will on Thursday unveil a sweeping proposal for stricter bank capital requirements known as the "Basel III endgame" aimed at ensuring the stability of big banks under international rules rolled out after the 2008 financial crisis.
https://www.reuters.com/business/finance/us-banks-may-take-up-4-years-set-aside-profits-new-capital-rules-2023-07-26/
Under the plans, the largest U.S. lenders are expected see calculations of the risk-weighted assets (RWA) they hold to rise to 20%, above an initial estimate of 12%, Morgan Stanley (MS.N) analysts led by Betsy Graseck wrote in a note. Holding more RWA will require banks to set aside more capital under the new standards"..
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