The letter from 29 Republicans, including some who may chair the House Financial Services Committee next year, urges the Federal Reserve’s top regulator to "recalibrate" the capital surcharge for banks like JPMorgan Chase and Citigroup.
During earnings calls, bankers praised regulators' latest efforts to modify capital rules. JPMorgan Chase CFO Marianne Lake, meanwhile, called on policymakers to focus on overhauling the G-SIB surcharge.
Federal Reserve Vice Chairman for Supervision Randal Quarles on Friday gave the clearest indication yet of the central bank's intention to recalibrate the regulatory framework for the nation’s largest banks.
Federal Deposit Insurance Corp. Chairman Martin Gruenberg raised concerns about provisions that would significantly increase the systemic risk threshold for large banks, as well as one that would change the calculation for the supplementary leverage ratio.