US Fed's Barr to repropose Basel III capital requirements with 9 percent surcharge for largest banks

Summary

MLex Summary: Michael Barr, the US Federal Reserve's vice chair for supervision, said in a speech that he will repropose Basel III capital requirements for the largest banks to make them subject to a 9 percent surcharge. That's less than the 19 percent additional layer of capital for the Global Systemically Important Banks proposed initially by regulators last year. The Fed board has to approve Barr's submission before issuing it for public comment.