U.S. banks must pay up to $2 billion more per year to shield taxpayers: Fed

The largest U.S. banks will have to pay as much as $2 billion more a year to insure against a future market collapse, the U.S. Federal Reserve said on Thursday, as it outlined a new rule designed to further protect the financial system. The rule demands Wall Street holds more debt that could be converted to shareholder equity if a bank is pushed to bankruptcy. Half of the eight largest U.S. banks would need to issue roughly $50 billion in fresh debt to satisfy the new standard, known as Total Lo