WASHINGTON – The U.S. Federal Reserve voted unanimously on Thursday to propose a tough new plan requiring banks to hold assets they could easily sell in a credit crunch.
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The plan, which is stricter than the liquidity requirements agreed upon by international regulators, is aimed at making banks safer after the 2007-09 credit crisis.
The industry will have 90 days to comment on the proposal, after which it will be finalized.
(Reporting by Douwe Miedema and Emily Stephenson; Editing by Gerald E. McCormick)