WASHINGTON — The Federal Reserve Board on Thursday unanimously approved the release of a set of proposals that would raise banks' minimum capital requirement to 7%.

U.S. regulators have been working steadily to draft rules that would effectively adopt international capital standards set by the Basel Committee on Banking Supervision that are designed to prevent a repeat of the financial crisis.

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.