U.S. Fed adopts bank liquidity proposal in unanimous vote

Thursday, 24 Oct 2013 | 11:02 AM ET

WASHINGTON, Oct 24 (Reuters) - The U.S. Federal Reserve voted unanimously on Thursday to propose a tough new plan requiring banks to hold assets they could easily sell in a credit crunch.

The plan, which is stricter than the liquidity requirements agreed upon by international regulators, is aimed at making banks safer after the 2007-09 credit crisis.

The industry will have 90 days to comment on the proposal, after which it will be finalized.