Fed OKs $200 Bil Capital Cushion At Top 8 Banks

The Federal Reserve Board on Monday approved a final rule directing JPMorgan Chase (JPM) and seven other large U.S. banks to hold more equity capital at higher than current industry requirements. The move is designed to create a cushion against possible losses to reduce both risk in the financial system and the likelihood of another federal bailout. "A key purpose of the capital surcharge is to require the firms themselves to bear the costs that

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