(Reuters) -The Federal Reserve has shown other U.S. regulators the outlines of a revised plan that would dramatically relax a Biden-era bank capital proposal for Wall Street’s largest lenders, Bloomberg News reported on Wednesday.

Some officials have calculated that the terms of the Fed’s plan would lead to an increase of between about 3% and 7% in total capital for most big banks, the report said, citing people familiar with the matter.

That outcome is far below the 19% raise that the industry had faced in 2023 under the draft Basel capital rules, which proposed changes to how big banks gauge lending and trading risks.

The Federal Reserve did not immediately respond to a Reuters request for comment on the report. Reuters could not independently verify the report.

Earlier this month, R

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