Fed eases post-crisis rules for domestic, foreign banks

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 45 sec. here
  • 2 min. at publisher
  • 📊 Qulity Score:
  • News: 21%
  • Publisher: 66%

The U.S. Federal Reserve on Thursday unveiled a final package of rules easing capital and liquidity requirements for domestic U.S. and foreign ...

Singapore Headlines News

Singapore Latest News, Singapore Headlines

WASHINGTON: The U.S. Federal Reserve on Thursday unveiled a final package of rules easing capital and liquidity requirements for domestic U.S. and foreign banks that were originally introduced following the 2007-2009 global financial crisis.

That 2018 law ordered the Fed to reduce the burden on community and regional lenders, but progressive Democrats and consumer groups are likely to criticize the central bank for giving larger banks too much leeway with its final changes. But Governor Lael Brainard voted against the easier rules, saying in a statement they go beyond the law passed by Congress and would"weaken the safeguards at the core of the system before they have been tested." Brainard has regularly opposed recent efforts at the Fed to ease bank rules.The Fed on Thursday said the changes, which it first proposed in October last year, aim to more closely tailor regulations to the riskiness of firms' businesses.

Fed staff estimated the final rules would lower capital requirements by about 0.6per cent and liquidity requirements would drop by about 2per cent for all affected banks.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in SG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Fed finalizes post-crisis rule easing for domestic, foreign banksThe U.S. Federal Reserve on Thursday unveiled a final package of rules easing capital and liquidity requirements for domestic U.S. and foreign ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

US Fed members 'more concerned,' say recession risks risingWASHINGTON: American central bankers have grown more fearful, saying a global slowdown and President Donald Trump's trade wars could drag down ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Fed finalizes post-crisis rule easing for domestic, foreign banksThe U.S. Federal Reserve on Thursday unveiled a final package of rules easing capital and liquidity requirements for domestic U.S. and foreign ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Bank of England sets out rules of engagement for Facebook's LibraThe Bank of England set out the rules of engagement that Facebook's Libra crypto-currency and other new digital payments providers would have to ... Incredibile
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Asian shares, oil ease as US-China standoff spreadsAsian stocks fell the most in a week on Wednesday as the United States and China's broadening dispute over trade and foreign policy showed little ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

India pursues China-led trade deal despite domestic oppositionNEW DELHI (REUTERS) - India is pressing ahead with talks to join a China-led free trade pact, officials said on Thursday (Oct 10), despite the fears of some domestic producers that the country would be flooded with cheaper Chinese imports.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »