Big banks open lower after WSJ reports the Fed is expected to accept Basel rules requiring banks...

|By:, SA News Editor

Big banks open lower after WSJ reports the Fed is expected to accept Basel rules requiring banks to hold more capital. Preliminary estimates put JPMorgan Chase (JPM -0.9%) in the top category, showing it would need to hold 2.5% of extra capital on top of the 7% base all institutions will be required to hold. Citigroup (C -1.8%) also could land in the top bucket. BAC -1.1%.