Originally the capital surcharge was going to be higher (around 3%), but now it’s looking like it’s going to be 2.0% to 2.5%, according to what Steve Liesman just said on CNBC.
The concrete numbers will be announced soon at Basel, but the news is: the Fed is backing off a bit on the capital surcharge.
CNBC is asking, is this a reaction to bankers who feel like regulators haven’t even studied the effects of the new regulations, like surcharges?
The market is coming back a bit, perhaps because of the announcement.
Bank stocks also came back a bit.
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