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Wall Street banks are launching an ambitious campaign to reshape capital regulations, emboldened by Trump’s pending return to the White House and their recent victory in halving proposed Basel capital requirements.
Leading institutions like JPMorgan Chase, Bank of America, and Goldman Sachs are targeting multiple regulatory reforms, including reducing the capital surcharge for global banks and restructuring the Federal Reserve’s stress testing framework.
Banking executives argue that the current nearly $1 trillion combined capital requirement is excessive, pointing to their stability during the COVID-19 pandemic and their role in stabilizing regional banks during the 2023 crisis as evidence of their financial strength.
While banks achieved some regulatory relief during Trump’s first term, they view the upcoming administration change, including an earlier-than-expected appointment of a new Federal Reserve regulatory chief, as a unique opportunity for more comprehensive reform.
