How will US regulators perform the Basel III balancing act?

Largest banks seek offsets for higher capital requirements caused by possible end of IRB, IMM

As Michael Barr’s nomination hearing concluded on Capitol Hill on May 19, you could almost hear Wall Street heave a collective sigh of relief. President Biden’s second pick for vice-chair of supervision at the Federal Reserve had reassured legislators repeatedly that he viewed capital levels in the US banking system as “quite high”, “quite strong” and even “very strong”.

This should indicate that Barr, if confirmed, would not use the implementation of the final Basel III package of rulemaking

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