After a 'holistic review' of capital for large banks "to enhance their resilience and ability to serve communities, households, and businesses," Fed Vice-Chair of Supervision, Michael Barr said in a report this morning that he's leading a multi-year effort to increase capital requirements for banks.

Barr managed expectations by explaining that the focus of the review was on building resilience rather than attempting to address every conceivable risk, as the financial system is complex and constantly evolving.

"The proposed rules would end the practice of relying on banks' own individual estimates of their own risk and instead use a more transparent and consistent approach," he said.