The plan would harmonize a 2015 rule establishing swap margin requirements with a later policy that imposes restrictions on certain qualified financial contracts.
Powell, a former investment banker who has served as a Fed governor, was confirmed by the Senate last month to a four-year term as chair of the central bank.
The bank’s assets are capped at their current level of $1.95 trillion; Citi, JPM and B of A will no longer allow bitcoin purchases on their credit cards.
The Federal Reserve voted unanimously Friday to impose an unprecedented enforcement action against Wells Fargo in response to its cross-selling scandal, restricting the bank’s future growth and removing four members of its board of directors.
Her career at the Federal Reserve is one of stunning accomplishments, but time will tell how her tenure ultimately is remembered on bank regulation and stewardship of the economy.
The Fed released its stress testing scenarios for banks this year, raising the bar on what constitutes severely adverse hypothetical market conditions.
Swelling capital levels, tax cuts and changing attitudes about post-crisis regulation could encourage bigger banks to issue the one-time payouts to reward shareholders and better manage their returns.
