Finance
FDIC Vice Chair Says Bank Capital Plan Needs More Unified Effort
- Travis Hill foresees confusion if one regulator acts alone
- He’s also concerned about regulatory whiplash at midsize banks
Travis Hill
Photographer: Amanda Andrade-Rhoades/BloombergThis article is for subscribers only.
All three of the top US bank regulators need to get on the same page when they propose major revisions to the Biden administration’s signature overhaul of capital requirements — or risk causing confusion, a top FDIC official said Wednesday.
“For just one agency to re-propose – but with an expectation that a future final rule will be issued jointly by the three agencies – would be unprecedented, sow confusion and lead to a number of practical and legal questions,” Federal Deposit Insurance Corp. Vice Chairman Travis Hill said Wednesday.