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Fed Amping Up Capital Surcharge For Biggest US Banks

Law360, Los Angeles (September 8, 2014, 9:08 PM EDT) -- A governor on the Federal Reserve Board is expected to tell a U.S. Senate committee on Tuesday that the regulator is putting together a new rule that would require the largest U.S. banks to keep a bigger financial cushion to insure them in risky transactions.

Federal Reserve Gov. Daniel K. Tarullo will testify before the Committee on Banking, Housing and Urban Affairs on Tuesday that the Fed is working on three sets of initiatives, including stricter requirements for so-called capital surcharge, the money banks are required to keep on hand to boost their reserves.

The surcharges would apply to banks the...

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