Finance
JPMorgan Says Bank Regulations Will Add $50 Billion in Required Capital
- Industry is promising an aggressive push-back on Basel III
- Citi CFO Mason says equity investments might be one casualty
The JPMorgan Chase & Co. headquarters in New York.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
In a Basel III world, JPMorgan Chase & Co. would have to stockpile 25% more capital, while Citigroup Inc. would have to rethink its equity investments.
Two of the largest US banks offered more details Friday on what they expect if new capital rules unveiled by regulators in July go into effect without revisions. They’re also stepping up their critiques of the plan and promising a robust push-back from the industry, which is likely to face less capacity for stock buybacks if the rules are passed.