The Federal Reserve released long-awaited proposals Tuesday to strengthen regulations on the country's biggest banks, including Bank of America and Wells Fargo.
As expected, banks with more than $50 billion in assets would increase capital and liquidity requirements -- meaning banks would have to keep more money on hand.
In annual stress tests, banks would have to demonstrate that they would stay above capital and liquidity minimums in both expected conditions and in a significant downturn.
The statement from the Fed indicated that its rules would not be more stringent than in-development international capital standards.
The Dodd-Frank financial reform law was the impetus for the proposals.