Over the past week, federal regulators issued a pair of proposals that would bring about the most substantial changes to capital requirements for the largest banks in years.

Yet to some, the most startling thing about the proposed reforms was how unremarkable they turned out to be.

The Federal Reserve Board on Tuesday unveiled a proposed rule to swap out a currently required capital buffer for a simpler measure more tailored to an individual institution's risk. The next day, the Fed along with Office of the Comptroller of the Currency proposed easing the "enhanced supplementary leverage ratio" for the biggest banks, despite the Federal Deposit Insurance Corp.'s opposition.

Both would be noteworthy changes and continue the deregulatory trend of the Trump era. But many observers were quick to point out that the proposed reforms were first envisioned by Obama appointees, with some analysts even expressing disappointment that the Fed did not go further.

Read more in American Banker.