A group of banking regulators appointed by U.S. President Joe Biden is considering new rules that would require large regional banks to create financial safety cushions that can be used during a crisis, The Wall Street Journal reports.

The new steps include regional banks raising long-term debt to help absorb losses in the event of insolvency, the WSJ reported, citing its sources.

The WSJ report comes a week after U.S. Federal Reserve Chairman Michael Barr said tighter rules could soon be imposed on large regional lenders after completing a holistic review of bank capital requirements.