Bankers have notes to share with lawmakers on a major regulatory effort to loosen their capital requirements.
The House Financial Services Committee hosted a panel of banking industry representatives Tuesday morning to talk about the Federal Reserve’s proposal to finally implement Basel III Endgame, led by Vice Chair for Supervision Michelle Bowman. The proposal represents a far easier regime for banks than what was first introduced during the Biden administration.
That doesn’t mean the industry doesn’t still have some quibbles. “The result will be a capital regime that better reflects risk, with substantial benefits to U.S. economic growth,” Bank Policy Institute CEO Greg Baer said. “That said, there are significant ways that the proposal undoubtedly overstates capital needs.”
