The eight biggest U.S. banks will need a total of about $68 billion in additional capital under a new federal rule [PDF] the financial services industry tried to kill.

Looking to avert a repeat of the 2008 financial crisis, U.S. regulators on Tuesday approved an increase of the so-called leverage ratio, which is used to calculate a bank’s capital against its assets. The rule, which goes into effect in January 2018, bumps the ratio from 3 percent to 5 percent, forcing the banks to rely less on debt.

The financial institutions covered by the regulation are Bank of America Corp., The Bank of New York Mellon Corp., Citigroup Inc., Goldman Sachs Group Inc., JPMorgan Chase & Co., Morgan Stanley, State Street Corp. and Wells Fargo & Co. A majority of the firms are members of the Financial Services Roundtable, which had fought against the rule since the Federal Reserve Board, Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency proposed it in July 2013.

Affiliate publication Corporate Counsel has more.