The Federal Reserve is expected next week to complete some of the most significant changes to bank rules since President Trump took office, setting up a new way of deciding which large banks are hit with its toughest regulations.

The Fed announced Thursday it would vote October 10 on a measure to ease liquidity and capital rules for large US banks, signing off on a plan that may lower regulatory costs for regional US lenders under the $700bn asset line. Foreign banks with operations in the US are also expected to win relief.