Two leading trade groups urged the Federal Reserve on Monday to let bank holding company subsidiaries earn at least 25% of their revenue from the underwriting of commercial securities.

The Bankers Roundtable and the Institute of International Bankers, which together represent almost every bank holding company with an active securities underwriting business, said the current 10% revenue limit is too low. U.S. securities markets will suffer if banks can't compete for business, the groups said.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.