{
  "id": 27015,
  "title": "How Basel III Changes Where Capital Sits: Nonbank Subsidiaries as Equity Reservoirs",
  "url": "https://urgent.news/2026/07/16/how-basel-iii-changes-where-capital-sits-nonbank-subsidiaries-as",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-07-16T13:00:00.000Z",
  "source": {
    "name": "Liberty Street Economics",
    "slug": "liberty-street-economics",
    "url": "https://libertystreeteconomics.newyorkfed.org/2026/07/how-basel-iii-changes-where-capital-sits-nonbank-subsidiaries-as-equity-reservoirs/"
  },
  "original_language": "en",
  "account": null,
  "summary": "This post is the second in a three-part series on how bank regulation interacts with the organizational structure of banking firms. The first post documented that nonbank subsidiaries inside bank holding companies (BHCs) are large, equity-rich \"reservoirs,\" and that bank-level capital diverged sharply from consolidated capital after Basel III took effect in 2015. This post asks why, and traces…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}