Fed proposes tougher capital surcharges on biggest banks

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The Federal Reserve is looking to impose capital surcharges on the biggest US banks that could go beyond the framework agreed by the Basel Committee.

Banks that fail to comply face being hit with limits on the size of their dividend and bonus payments if the new rule is adopted, the US central bank said yesterday.

The proposal would be phased in over three years from January 1, 2016 – in accordance with Basel recommendations – but imposes tougher requirements on banks that are deemed particularl

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