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Agencies propose rule to limit impact of large bank failures

( April 2, 2019, 16:17 GMT | Official Statement) -- MLex Summary: The US Federal Reserve, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency today proposed a rule to limit the interconnectedness of large banking organizations and reduce the impact from failure of the largest banking organizations. The proposal would require global systemically important bank holding companies and “advanced approaches” banking organizations to hold additional capital against substantial holdings of “total loss-absorbing capacity” debt to reduce interconnectedness and, if a GSIB were to fail, reduce the impact on the financial system.Statement follows in full. Also see document below. ...

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