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U.S. regulators seeking data on banks' attempts to slim down  

March 6, 2014

 U.S. regulators are encouraging mega-banks to simplify their operations and they plan to compile data to track the financial firms' progress, an official with the U.S. Office of the Comptroller of the Currency (OCC) said on Monday.

Charles Taylor, a top OCC official who focuses on capital and regulations, said the majority of the complex banks his agency oversees are implementing "simplification" projects.

"We plan to initiate a project soon to compile data that will assist the industry and other regulators in assessing the impact of these actions," Taylor said in remarks prepared for a conference hosted by the Institute of International Bankers.

Regulators are still grappling with how to deal with the risks that complex, banking giants pose to the financial system, almost six years after the housing market crash brought the largest U.S. banks to their knees.

Read more: Reuters

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