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Home » News of the Competition

News of the Competition

July 21, 2015

WASHINGTON (7/21/15)--The eight largest banks in the United States received a final number from the Federal Reserve regarding the amount of additional capital they must hold in order to minimize the risk to the economy if they should fail. “A key purpose of the capital surcharge is to require the firms themselves to bear the costs that their failure would impose on others,” said Fed Chair Janet Yellen Monday. “They must either hold substantially more capital, reducing the likelihood that they will fail, or else they must shrink their systemic footprint, reducing the harm that their failure would do to our financial system.” According to the Fed, the estimated capital surcharges range from 1% to 4.5% of each company’s total risk-weighted assets. Of the eight global systemically important bank holding companies-- Bank of America Corp.; The Bank of New York Mellon Corp.; Citigroup Inc.; The Goldman Sachs Group Inc.; JPMorgan Chase & Co.; Morgan Stanley; State Street Corp.; and Wells Fargo & Co.--JPMorgan Chase will have to hold an additional $12.5 billion to comply with its 4.5% requirement (The New York Times July 20) ...

Credit Union Magazine - Winter 2019

Winter 2019

Alternative lending, compliance management systems, and ideas for boosting credit card portfolios are among the topics of Credit Union Magazine’s Winter 2019 edition.
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