JPMorgan Chase (JPM), Bank of America (BAC), Goldman Sachs (GS) and Morgan Stanley (MS) are clashing over pending changes to the Federal Reserve's capital surcharge on global systemically important banks, or GSIB, Reuters reported Thursday, citing documents and sources familiar with the matter.

The Federal Reserve proposed changes to the surcharge in March, including revised policies on short-term wholesale funding, to make the levy more risk-sensitive, according to the report. Sources said JPMorgan and Bank of America argued that the proposal would benefit rivals Morgan Stanley and Goldman Sachs.

JPMorgan sent a letter to the Federal Reserve in June, estimating that it would miss out on $13 billion in extra capital relief under the proposed revision, while Bank of America would miss out on $9 billion. Morgan Stanley and Goldman Sachs, meanwhile, would realize an additional $1 billion to $2 billion in relief, Reuters said.

The dispute could complicate the Federal Reserve's effort to finalize the broader capital-rule changes before 2027, according to the report.

The banks did not immediately respond to MT Newswires' requests for comments.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 353.16, Change: -3.34, Percent Change: -0.94