Fed G-Sib plan threatens 50bp jump in FCM capital
Banks rail against proposals that would scoop up $46trn in cleared trades
A below-the-radar move to tweak the way the US Federal Reserve assesses systemic risk could force banks to raise billions of dollars in extra capital to support their client clearing businesses, critics claim.
A rule change proposed by the Fed on August 24 would require banks to include all cleared derivatives transactions in its Banking Organization Systemic Risk Report, known as FR Y-15. The report is used to calculate the capital surcharge for the eight US global systemically important
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