Federal Reserve lowers community bank leverage ratio
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FILE PHOTO: The U.S. Federal Reserve Board building on Constitution Avenue, Washington, U.S., March 19, 2019. REUTERS/Leah Millis
WASHINGTON (Reuters) - The Federal Reserve announced Monday it was lowering the community bank leverage ratio to 8%, which would gradually rise back to 9% by 2022.
The rule easing was ordered as part of a broad economic relief package approved by Congress in March. Under the new rules, the leverage cap will lower in the second quarter of 2020, rise to 8.5% in 2021, and return to its previous 9% level at the beginning of 2022.
(Reporting by Pete Schroeder; Editing by Alison Williams)
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