Fed passes capital surcharges for major banks

The Federal Reserve passed a proposal on Tuesday for risk-based surcharges on the most important U.S. banks to the global financial system.

These surcharges would require the eight U.S. banks with $50 billion or more in consolidated assets to maintain an additional capital supply based on the institution’s system importance, the Fed said Tuesday. The framework for these charges would be phased in beginning January 2016 through January 2019.

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