July 18 (Reuters) – U.S. bank regulators are set to launch their strategies next week for a sweeping overhaul of capital guidelines, with the latest draft consisting of requirements for big loan providers’ domestic home loans that surpass global requirements, Bloomberg News reported on Monday.
The modifications would become part of the U.S. variation of an international accord called Basel III that followed the monetary crisis, according to the report.
The strategies are poised to be revealed on July 27 by the U.S. Federal Reserve, the Federal Deposit Insurance Corp (FDIC) and the Office of the Comptroller of the Currency (OCC), Bloomberg reported, pointing out individuals acquainted with the matter.
The Fed and the OCC decreased to comment. The FDIC did not instantly react to Reuters’ ask for remark.
Last month, Reuters reported that bank regulators led by the Fed are completing a proposition to carry out global capital requirements concurred by the Basel Committee on Banking Supervision in the after-effects of the 2007-2009 monetary crisis.
While the Basel guidelines were concurred upon years earlier, the U.S. policies to adhere to them are being prepared after this year’s banking crisis that resulted in the collapse of Silicon Valley Bank and 2 other loan providers.
The proposition is the very first significant guideline led by Fed Vice Chair for Supervision Michael Barr, who has actually released a sweeping evaluation of capital guidelines and is anticipated to be difficult on Wall Street.
Reporting by Jaiveer Singh Shekhawat and Pritam Biswas in Bengaluru; Editing by Anil D’Silva
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