What's Going On With Bank Of America Stock Tuesday - Citigroup (NYSE:C), Bank of America (NYSE:BAC), Wells Fargo (NYSE:WFC), U.S. Bancorp (NYSE:USB)

Bank Of America Corp BAC and peers are trading higher Tuesday amid reports of up to 20% hike in capital requirements.
U.S. regulators look to order large banks to shore up their financial footing to boost the system's resilience after a spate of midsize bank failures this year.
By June, the regulators are on track to propose a rise in overall capital requirements by roughly 20% at larger banks on average, a shift from the lighter regulatory approach taken during the Trump administration.
The precise amount will depend on a firm's business activities, with the most significant hikes likely for U.S. megabanks with big trading businesses.
Banks heavily dependent on fee income—like investment banking or wealth management—could also face significant capital boosts.
Three agencies - the Federal Reserve, Federal Deposit Insurance Corp., and the Office of the Comptroller of the Currency will likely propose and seek comment on the capital rules.
Regulators will likely propose ending a regulatory reprieve that had allowed some midsize banks to effectively mask losses on securities they hold, a contributing factor in the collapse of SVB Financial Group SIVBQ.
Other bank stocks, including Citigroup, Inc C, U.S. Bancorp USB, and Wells Fargo & Co WFC stocks, are also trading higher Tuesday.
Price Action: BAC shares traded higher by 2.77% at $29.32 on the last check Tuesday.
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