NEW YORK ( TheStreet) -- Banks rallied on Monday, as investors got more clarity on the capital buffers for large banks, which were less stringent than feared.
In addition to requiring banks to maintain a Tier 1 Capital of 7% common equity ratios by 2019, the Committee will require the largest banks to 1% to 2.5%, "depending on a bank's systemic importance," with "an additional 1% surcharge," to "provide a disincentive for banks facing the highest charge to increase materially their global systemic importance."
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