In the News

Recent articles, letters, and other items of interest:

Bloomberg Markets: Basel III Rules Will Have Knock-On Effects

SIFMA president and CEO Kenneth E. Bentsen, Jr. joined Romaine Bostick on Bloomberg Markets to discuss the Basel III Endgame rules and what they could mean for U.S. banks.

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Fortune: Proposed Basel III Endgame new trading capital rules would hobble U.S. banks, capital markets, and the broader economy

In the following op-ed by Fortune, SIFMA’s President and CEO Kenneth E. Bentsen, Jr. comments on the Proposed Basel III Endgame new trading capital rules and the effects it would have on the U.S. capital markets and the broader economy.

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Banking Dive: Powell eyes ‘broad,’ ‘material’ changes to capital requirements proposal

Federal Reserve Chair Jerome Powell told House lawmakers Wednesday he expects “broad and material changes” to a contentious capital requirements proposal the central bank issued in July.

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HousingWire: Powell acknowledges concerns about Basel III bank proposal 

Federal Reserve Chair says that ‘broad material changes’ are on the way but declines to provide details.

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Politico Pro: OCC chief: Agencies will ‘very seriously consider’ changes to bank capital proposal

“If there’s a better way to capture a particular risk, make it both risk-sensitive and consistent, and calibrated in a way that’s prudent and reasonable, and it’s better than what we proposed, we will obviously take a really close look at that and consider it,” Acting Comptroller of the Currency Michael Hsu said.

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American Banker: Powell: Basel III is not the Fed’s answer to Silicon Valley Bank

“We have taken and are taking many more steps to deal with the problems that revealed themselves with Silicon Valley Bank,” Powell said, adding: “The Basel III rules are not directly related, they are not the thing that is directly related to Silicon Valley Bank.” 

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CNBC: Green energy projects at risk

CNBC’s Emily Wilkins reports that an odd coalition of banks, renewable energy and lawmakers are warning that new proposed capital requirement rules would prevent future clean energy projects, as a majority need critical funding from banks.

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American Banker: The Basel endgame rule could undermine US financial stability

Former Fed Gov. Randall Kroszner warns bank regulatory agencies to take seriously the many objections to the Basel endgame capital proposal like the acceleration of migration to nonbanks that face less regulation and supervision.

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Fortune: Top economist warns of ‘unintended consequences’ from a banking regulation that will touch every corner of the economy

The Basel III Endgame proposal won’t just be costly for banks, it will have “unintended consequences” for consumers and businesses across the United States, warned former Federal Reserve governor Randall Kroszner in his recent analysis.

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