Author: fsf

Add former Federal Reserve officials Randal Quarles and Randall Kroszner to the growing list of stakeholders raising concerns about the negative impact of Basel III Endgame and encouraging regulators to carefully reconsider the entirety of the proposal. Coming on the heels of Fed Chair Powell testifying last month that “there will be broad material changes… Continue reading Former Fed officials weigh in: Basel III Endgame must be reproposed

Basel III Endgame will make it more difficult for farmers to access credit and manage risk, ultimately leading to higher costs for food and other agricultural products for consumers. Don’t take our word for it—farmers and industry experts continue to emphasize the negative impact Basel III Endgame will have on the agriculture industry: There is… Continue reading Farmers will pay the price of Basel III Endgame

Basel III Endgame will increase the cost and reduce the availability of credit for small businesses, making it harder and more expensive for these crucial engines of the U.S. economy to get a loan. Without reliable access to credit, small business owners may struggle to hire and pay employees, buy inventory, or run their businesses… Continue reading Small business owners can’t afford Basel III Endgame

Last week, the opposition to Basel III Endgame continued to grow and generate headlines. These pieces highlight the impact the proposal would have on first-time homebuyers, small businesses, clean energy, and more. Below is a sampling of the coverage: Basel III Endgame has serious costs that threaten to undermine American small businesses, clean energy, and affordable… Continue reading Basel III Endgame faces a groundswell of opposition from a diverse coalition of voices

Today at the Transnational Law Conference, Federal Reserve Vice Chair for Supervision Michael Barr stated that there will likely be significant changes to the Fed’s current proposed capital regulation plan,with a particular eye towards operational risk. Vice Chair Barr: “We’re in the middle of a process of receiving all the comments… but I do think that a lot of… Continue reading Fed’s Barr expects “broad and material changes” to Basel III Endgame

Coming out of Federal Reserve Chair Powell’s semiannual Monetary Policy Report testimony to Congress, it is clear that broad and detailed public opposition to Basel III Endgame is having an impact. In the face of mounting concerns, Chair Powell affirmed that we should expect “broad, material changes” to prevent unintended consequences from the proposal. Don’t… Continue reading Rethinking Basel III Endgame – Powell hearings signal major rewrite

There is a growing wave of opposition to Basel III Endgame, and former U.S. financial officials are criticizing the proposal. Regulators need to listen to their peers and really consider the consequences of Basel III Endgame as written. It’s time to scrap this proposal and start over.

Today, American Banker ran an op-ed by former Federal Reserve Governor Randall Kroszner on the unintended consequences of Basel III Endgame. In particular, shifting activity from the regulated financial sector to the shadow banking sector has not been accounted for by regulators. Regulators need to go back to the drawing board and thoroughly evaluate the costs of… Continue reading Basel III Endgame will accelerate activity to less regulated, shadow banking sector says Former Fed Governor