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Better Markets Issues Comment Letter on Another Misguided Rule that Will Help Banks Shed Capital for Dividends and Bonuses at Just the Wrong Time

The Federal Reserve has taken another profoundly misguided step in making it easier for Covered Banks to continue distributing capital in the form of dividends and paying discretionary bonuses to executives. It comes on the heels of a similar rule recently issued by the banking regulators that applied to the capital requirements. This time, the rule relaxes restrictions under the TLAC or “Total Loss-Absorbing Capacity” rule.

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