The Presidential Daily Brief

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    Fed to Banks: Add Billions to Capital Buffers

    Being too big to fail is no excuse. The Federal Reserve has told America’s top banks to shore up an extra $200 billion to prevent another financial disaster. New rules were laid down yesterday for the eight largest lenders — deemed “globally systemically important” — and most are already in compliance, with only JPMorgan short $12.5 billion. Institutions that fail to comply with the rules, which introduce risk-based capital surcharges up to 4.5 percent, face limits on their dividend payments and bonuses.

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