Banks Fine-Tune Critiques of US Capital Plan to Sway Fed’s Michael Barr
- Fed, FDIC and OCC deadline to receive public input is Tuesday
- Michael Barr open to making changes to bank capital proposal
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Wall Street is delivering on its promise to deliver reams of feedback on US regulator’s proposed bank capital overhaul, asking for substantial changes or even an entirely new plan.
In comments due Tuesday, the industry is formalizing its critiques of a plan that would force the biggest lenders to increase their capital levels by 19%, a move aimed at avoiding future bank failures and another financial crisis. The Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency must take those suggestions into account before completing the rules.