But one important message is already clear: Bank regulators have been too tolerant.
The plan is being reviewed by the French bank regulator.
But, he said, the accounting oversight board decided to go further than bank regulators had gone.
One is a result of restrictive moves by bank regulators.
This would be significantly below the 4 percent minimum level being proposed by bank regulators of major nations.
Bank regulators are expected to decide the future of the failed banks by the July 4 holiday.
These days, bank regulators are looking much more closely.
The court thus rejected the arguments of the attorneys general and bank regulators in all 50 states.
The case also reflects a new level of aggressiveness among bank regulators, they said.
It remains subject to various conditions, including approval by shareholders of both companies and bank regulators.