November 21, 2018 / 5:14 PM / 6 months ago

Federal Reserve proposes new 9 percent capital leverage ratio for small banks

FILE PHOTO: The Federal Reserve building is pictured in Washington, DC, U.S., August 22, 2018. REUTERS/Chris Wattie/File Photo

WASHINGTON (Reuters) - U.S. banking regulators said on Wednesday that they will seek public comment on a proposed rule that introduce a small-bank capital leverage ratio of 9 percent.

The Federal Reserve said that the new leverage ratio, which would apply to banks with $10 billion in assets, aims to simplify capital requirements for small banks.

The proposal, which was issued in conjunction with the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency, is required by a law passed by Congress in May to ease banking regulations.

Reporting by Katanga Johnson

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