Briefings

Week InReview: July 14, 2023

Capital rules.

The Fed, led by Chair Jerome Powell, has pushed through a historic run of rate increases over the past year. Photo: Nathan Howard | Bloomberg News

Wall Street banks are facing one of the biggest regulatory overhauls since the financial crisis. The Fed's Michael Barr proposed lowering the threshold for new capital requirements to $100 billion from $700 billion, and wants more standardization in risk assessments. The top regulator said financial firms must set aside more cash to act as a cushion to protect against losses. Barr was also one of three Fed officials calling for more tightening this year, saying “We still have a bit of work to do.”

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