US bank regulators are set to approve the Basel draft and begin soliciting feedback from the industry. This follows a years-long campaign by Wall Street banks to alter rules introduced after the 2008 financial crisis. Critics argue that these changes will weaken financial system safeguards and exacerbate ongoing financial instability. The Fed also plans to propose tweaks to the "GSIB surcharge" levied on the eight riskiest global U.S. banks by updating some economic inputs and adjusting how short-term funding risk is calculated. The changes should result in big bank capital falling slightly or coming out flat.