05:07 AM EDT, 05/20/2024 (MT Newswires) -- US banking regulators are mulling a plan to roughly halve a proposed 20% increase in capital requirements for the country's largest banks, The Wall Street Journal reported Sunday, citing unnamed people familiar with the matter.

JPMorgan Chase ( JPM ) Chief Executive Jamie Dimon and other bank leaders have sought to reduce the reserve increases, which are meant to make the banking system safer following the 2008 financial crisis. Banks complained the new requirements would increase their costs and further tighten lending, the Journal reported.

Officials of the Federal Reserve, Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency continue to discuss potential banking rule revisions, the Journal reported.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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