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October 09, 2023

Fed’s Barr nods to capital reform worries but vows to maintain course

Michael S. Barr

A top official at the Federal Reserve said the agency is listening to the banking industry’s concerns about capital reform. But reforms are still going to happen, whether or not the industry wants it.

The Fed’s Vice Chair for Supervision Michael Barr told the American Bankers Association this morning that a suite of proposed changes is necessary to shore up the financial system. These reforms include changes to requirements around long-term debt and the implementation of international capital standards known as Basel III.

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