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Fed Ramps Pressure for Biggest US Banks to Shrink

“The Federal Reserve is pushing the biggest U.S. banks to shrink so that they're less of a risk to the financial system.

“In testimony at a Senate hearing Tuesday, Fed Gov. Daniel Tarullo highlighted several proposals that regulators are working on. They include imposing additional capital requirements for the eight largest banks — including JPMorgan Chase, Citigroup and Bank of America — that exceed the levels mandated by international regulators. That means the banks would have to set more cash aside and raise more money to increase their cushions against unexpected losses.

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