ABA Statement on Vice Chair Barr’s Remarks on Basel Capital Reproposal

"We welcome today's announcement from Vice Chair Barr that the regulatory agencies are reproposing the Basel capital rules. In light of the bipartisan criticism of the proposal in Congress and the overwhelming opposition from commenters, including many from outside of banking, a do-over was absolutely necessary. We will carefully review this new proposal with our members, recognizing that America's banks are already well-capitalized and, as Vice Chair Barr acknowledged today, any increase in capital requirements will still carry a cost for the economy and must be appropriately tailored.

"In this reproposal, we strongly urge regulators to show their work and demonstrate that they have carefully analyzed the impact of any proposed capital increases, something missing from the original proposal. We also call on the agencies to allow for a sufficient comment period for a thorough evaluation of the revised rule."

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About the American Bankers Association

The American Bankers Association is the voice of the nation's $23.9 trillion banking industry, which is composed of small, regional and large banks that together employ approximately 2.1 million people, safeguard $18.8 trillion in deposits and extend $12.5 trillion in loans.