The largest U.S. banks will need to have nine per cent more in reserve capital, down from the 19 per cent regulators proposed last year. (The Logic)

Talking point: The change is a win for Wall Street. The original overhaul faced intense backlash from the U.S. financial sector, with powerful executives including JP Morgan CEO Jamie Dimon leading efforts to roll it back. The changes are tied to Basel III, an international accord meant to boost banks’ resilience in the wake of the 2008 financial crisis. A string of bank failures in the U.S. last year sparked a new sense of urgency to ensure institutions have sufficient capital reserves. Canada’s banking regulator, meanwhile, said last month that it will give banks another year before they must increase their reserve capital.