Federal Reserve Board Invites Comment on Report on Impact of Proposed International Capital Standard
November 13, 2024
The Federal Reserve Board (FRB) today invited comment on a report, as prescribed by law, that discusses the impact of a proposed international capital standard. The report was prepared in response to a request from Congress in the Dodd-Frank Wall Street Reform and Consumer Protection Act.
The proposed international capital standard is known as Basel III. Basel III is a set of reforms to the international capital framework that was developed by the Basel Committee on Banking Supervision (BCBS). The BCBS is a group of central bank governors and supervisors from 28 countries.
The goal of Basel III is to strengthen the resilience of the global banking system by increasing the amount of capital that banks are required to hold. This capital will act as a buffer against losses and will help to ensure that banks can continue to lend to businesses and households even during periods of financial stress.
The FRB’s report assesses the potential impact of Basel III on the U.S. banking system. The report finds that Basel III would have a significant impact on U.S. banks, but that the impact would be manageable. The report also finds that Basel III would have a positive impact on the safety and soundness of the U.S. banking system.
The FRB is inviting comment on the report until January 15, 2025. The FRB will consider the comments received when it makes its final decision on whether to adopt Basel III.
Additional Information
- The report is available on the FRB’s website at: www.federalreserve.gov/publications/reports/bas…
- The BCBS website is available at: www.bis.org/bcbs/
- The Dodd-Frank Wall Street Reform and Consumer Protection Act is available at: www.gpo.gov/fdsys/pkg/PLAW-111publ203/pdf/PLAW-1…
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