US Fed official calls for increase to bank capital requirements

A senior Federal Reserve official proposed raising capital requirements for large US banks to strengthen oversight and mitigate financial instability. The proposals aim to subject more banks to risk-sensitive capital rules and introduce a long-term debt requirement for all large banks.

Markets track US losses with rates seen rising further

Global markets fell as central banks consider interest rate hikes to combat high inflation, with uncertainty surrounding the Fed’s tightening cycle.