Gelonghui May 2| The Federal Reserve and other senior U.S. regulators are moving forward with their landmark plansmutu777slotLet big banks hold more capital, despite some critics calling for the plan to be scrapped. According to people familiar with the matter, key officials have decided to adjust the original proposal rather than start drafting it again, and some of them are pushing to finalize the proposal as early as August. Abandoning the plan announced last July would almost certainly delay finalization until after the November U.S. election. There has been speculation that the Federal Reserve, the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) will overhaul the proposal. Some lawmakers and regulators have raised concerns, while Federal Reserve Chairman Powell and Vice Chairman for Banking Regulation Barr said they expected "broad and substantial changes." Barr said in March that standards related to operational, market and credit risk could be adjusted. These and other measures help determine how much capital banks need to hold under the plan.
