"Federal Reserve Chair Powell Plans Major Overhaul of Bank Capital Rules"
TL;DR
Federal Reserve Chair Jay Powell surprised Wall Street by indicating a potential retreat on proposed banking rules that would require larger banks to increase their capital reserves. The rules, known as the "Basel III Endgame," have faced opposition from bank CEOs, industry lobbyists, and lawmakers who fear the impact on lending and potential financial crises. Powell's comments suggest that the proposed rules may be scaled back or reworked, signaling a significant shift in bank regulation.
- Fed Chair Powell Signals a Retreat on Banking Rules The New York Times
- Powell says "broad" overhaul coming for Basel bank capital proposal Reuters
- House Republicans Urge Regulators to Withdraw Basel III Proposal Barron's
- Fed's Powell Says Significant Changes to Bank Capital Plan Likely Bloomberg
- Fed likely to make 'material' changes to controversial bank capital proposals, Jay Powell says Financial Times
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