2 Bank Stocks Lower Amid Revised Basel Plan
BACBank of America(BAC) Schaeffers Investment Research·2024-09-11 01:06

Bank stocks are in focus today, after Federal Reserve Vice Chairman for Supervision Michael Barr announced a revised draft of the Basel rule, also known as "Basel Endgame." The regulation establishes how banks with more than $100 billion in assets must calculate the amount of capital they need to set aside to cover any losses. Barr also noted there will be another capital rule for global banks.JPMorgan Chase & Co (NYSE:JPM) and Bank of America Corp (NYSE:BAC) shares are gapping lower today, with the former ...