Powell Comments on Potential Re-Proposal of Basel III Regulation

In a Senate Banking Committee hearing on July 9, and followed by the House Financial Services Committee on July 10, Federal Reserve Chair Jerome Powell stated that he and other Fed board members favor re-proposing the Basel III Endgame capital proposal for public comment. Powell acknowledged that agencies typically re-propose regulations when there are broad and material changes and doing so would be consistent with the Administrative Procedures Act. The other banking agencies – the FDIC and OCC – are still deliberating on the path forward. 

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