JPMorgan's Dimon warns bank stocks will suffer under US capital rules - reports

Joins Goldman Sachs CEO David Solomon

Plans for new capital rules in the US could damage the attractiveness of bank stocks and make loans more expensive, Jamie Dimon, chief executive of JPMorgan Chase, has argued.

Dimon argued the 'Basel III Endgame' reforms would reduce the amount banks lend, and drive banking activities into less regulated sectors, the FT has reported. Under the Fed's proposals, lenders would be required to hold an extra $2 of capital for every $100 of risk-weighted assets. Bank of England faces calls to delay new global banking capital rules Speaking at an industry event organised by Barclays, Dimon said: "Do [regulators] want banks ever to be investable again?" "I would not be a big buyer of banks . . . I would be no better than equal weight, or whatever you call it,"...