The Federal Reserve Board, OCC and FDIC jointly proposed amendments that would "substantially" revise capital requirements for large banking organizations to be consistent with international capital standards issued by the Basel Committee on Banking Supervision.
News & Insights
CFPB Director Rohit Chopra and SIFMA President Kenneth E. Bentsen, Jr. published opposing public statements on proposed revisions to capital requirements for large banking organizations.
Federal Reserve Board Vice Chair for Supervision Michael S. Barr shared the results of his "holistic review of capital for large banks" and recommended bank resolution reforms in response to recent bank failures.
Federal Reserve Board Governor Philip N. Jefferson concluded that U.S. financial markets remain resilient, but that economic growth will likely remain slow for the rest of 2023 due to increased uncertainty, and interest rates putting greater stress on banking organizations that have a high amount of uninsured deposits.
Treasury Secretary Janet Yellen described U.S. banking regulators' response to recent bank failures and highlighted Treasury's regulatory approach to risks posed by nonbank financial institutions.