Today, Federal Reserve Chair Powell stated that regulators are making "quite a bit of progress" on broad and material changes to Basel III Endgame and said the Federal Reserve was in favor of issuing a re-proposal for public comment. 

• "It is my view, it is the strongly held view of the members of the Board, that we do need to put a revised proposal out for comment for some period. And the reason is, you know, when there are broad and material changes, that has been our practice." 
• "That's the strong view of the Federal Reserve. We're working on that question with the FDIC and the OCC to try to find a path to do that … But from our standpoint, [opening a revised proposal up for public comment is] essential."

We agree: A re-proposal is essential.