Finance
Wall Street Banks’ Residential Mortgages Face US Mandates Exceeding Global Standards
- Proposed US capital rules likely to be released on July 27
- Long-awaited rules tied to Basel III international standards
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US bank regulators are set to release their plans next week for a sweeping overhaul of capital rules, with the latest draft including requirements for large lenders’ residential mortgages that go beyond international standards.
The changes would be part of the US version of a global accord known as Basel III that followed the financial crisis. The plans are poised to be unveiled July 27 by the Federal Reserve, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency, according to three people familiar with the proposal who asked not to be identified discussing details before the announcement.