Federal Reserve Chair Powell Foresees Major Changes to Bank Capital Requirements Proposal

Wednesday, 6 March 2024, 16:25

Federal Reserve Chairman Jerome Powell expects substantial revisions to the Basel III endgame proposal amid industry concerns over its cost and economic impact. Powell expressed receptivity to feedback during his testimony before Congress, acknowledging the need for significant adjustments to the plan. Anticipating broad and material modifications, Powell assured the House Financial Services Committee of forthcoming changes to the contentious regulatory proposal.
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Federal Reserve Chair Powell Foresees Major Changes to Bank Capital Requirements Proposal

Powell Anticipates Changes to Basel Proposal

Federal Reserve Chairman Jerome Powell expressed expectations of significant revisions to the Basel III endgame proposal, citing concerns within the banking industry.

Banking Regulations under Scrutiny

  • Powell acknowledges industry complaints regarding the plan's cost and potential economic consequences.
  • Officials initiate review process in response to feedback and industry concerns.

Reiterating his stance before the House Financial Services Committee, Powell assured that substantial alterations are on the horizon.


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.


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