Author: fsf

PwC released a new report titled “Basel III Endgame: Assessing the bigger picture,” which breaks down Basel III Endgame’s impact on the broader economy. A few highlights:  This report further reinforces a message that diverse stakeholders have been voicing for months: Basel III Endgame is bad for the economy and consumers. It’s time for regulators to scrap… Continue reading New PwC report finds Basel III Endgame would negatively impact the U.S. economy

Today, Federal Reserve Governor Michelle Bowman gave the keynote address at an event hosted by the Policy Exchange in London. In a sweeping discussion, Bowman touched on how Basel III Endgame as proposed in the U.S. runs the risk of harming global financial stability: “In the absence of some degree of international coordination, there is a risk… Continue reading Bowman: Basel III Endgame could harm global financial stability

Today, Federal Reserve Governor Michelle Bowman gave the keynote address at an event hosted by the Policy Exchange in London. In a sweeping discussion, Bowman touched on how Basel III Endgame as proposed in the U.S. runs the risk of harming global financial stability: “In the absence of some degree of international coordination, there is a risk… Continue reading Bowman: Basel III Endgame could harm global financial stability

Yesterday, Senator Elizabeth Warren (D-MA) sent a letter to Federal Reserve Chair Powell urging him to advance the proposed Basel III Endgame banking rule. Over 97% of the comments on the proposal were negative, and 86% came from individuals outside of the banking sector. Sen. Warren’s letter overlooks the people across America, including farmers, manufacturers, small business owners, and… Continue reading Basel III Endgame is bad banking policy

Many stakeholders have warned regulators that Basel III Endgame will negatively impact the economy. Based on a review of 13 research studies, the Financial Services Forum estimates that the proposed capital requirements would cost the economy over $100 billion per year. Here’s what economic experts, small business owners, and policymakers are saying about the economic impact of Basel… Continue reading In this economy?

Stakeholders from across industries have been speaking out about the negative consequences of Basel III Endgame, including pensioners and retirees.  Under Basel III Endgame, Americans saving for retirement will see increased costs and reduced returns.  Retirees and pensioners can’t afford Basel III Endgame. It’s time for regulators to scrap the proposal and start over.

Basel III Endgame is facing criticism from a variety of stakeholders—including local leaders, small business owners, state pension funds, and advocacy groups—about the impact the proposal will have on their communities.  Here’s what we are hearing: Local communities will bear the brunt of Basel III Endgame. It’s time for regulators to listen to these voices,… Continue reading Local voices speak out against Basel III Endgame

Basel III Endgame, the controversial banking proposal, has been criticized by a broad-based group of stakeholders. The proposed capital requirement increases would raise the cost and decrease the availability of consumer lending products, making auto loans less accessible for millions of Americans. There is no doubt about it: regulators need to scrap Basel III Endgame and start… Continue reading Basel III Endgame would slam the brakes on auto sales

Federal Reserve Board of Governors Vice Chair for Supervision Michael Barr stated today that Basel III Endgame will apply to less than 1% of banks in the country. This implies that the impact of the proposal will be minimal, which is not the case. In fact, U.S. banks subject to Basel III Endgame account for 81% of… Continue reading 81%