Yesterday, FDIC Vice Chair Travis Hill reiterated the need for a re-proposal of Basel III Endgame, as called for by other regulators and policymakers.

"It's clear that the proposal, issued almost exactly a year ago, lacked appreciation for its real-world impacts, and I appreciate the widespread acknowledgment that broad and material changes are necessary. I agree with calls from many others that a re-proposal is necessary." (Travis Hill, FDIC Vice Chair, American Enterprise Institute)

"Given the nature, complexity, and extent of changes needed, we should allow the public an opportunity to provide feedback on what the agencies are considering. In particular, the proposed operational risk and market risk frameworks rest on a complicated set of formulas and metrics that would be challenging to amend in a broad, material, and rational way without receiving additional feedback." (Travis Hill, FDIC Vice Chair, American Enterprise Institute)

There is widespread concern over Basel III Endgame's impact on Americans and the broader economy. The only way forward is to re-propose and allow the public to comment on it.