Federal Reserve Chair Jerome Powell Calls for Further Evaluation of Basel III Bank Capital Proposal
Tuesday, 9 July 2024, 15:10
Federal Reserve Chair Powell Calls for Basel III Rethink
U.S. Federal Reserve Chair Jerome Powell expressed strong support for revisiting the Basel III Endgame proposal.
Key Points:
- Powell's Endorsement: Powell endorses the need for enhanced bank capital requirements.
- Regulatory Disagreements: Regulatory agencies differ on the approach to risk assessment and capital standards.
- Industry Impact: Financial institutions await additional feedback on the proposed changes.
Overall, Powell's call for reconsideration of the Basel III plan highlights the ongoing efforts to strengthen financial regulations and ensure the stability of the banking sector.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.