HFSC Holds Basel III Hearing

On September 25, the HFSC Financial Institutions and Monetary Policy Subcommittee held a hearing, titled “Regulatory Recipe for Economic Uncertainty: The Endless Basel Endgame and an Onslaught of Hurried Rulemaking Undertaken by the Administration.” Republicans were largely critical of the Basel III Proposal and the timeline for a re-proposal. They also highlighted concerns regarding the rule’s potential negative impacts to capital and securitization markets. Democrats criticized the timing of the hearing and were generally supportive of the changes to the proposal that Federal Reserve Vice Chair for Supervision Michael Barr recently outlined. 

Watch the Hearing Here