Federal Reserve Chair Powell Foresees Major Changes to Bank Capital Requirements Proposal
Wednesday, 6 March 2024, 16:25
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.
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