![]() ![]() "The dramatic capital increases proposed today reflect a bad deal cut in Basel without public transparency or Congressional input, with an addition of unnecessary layers of capital solely for banks operating in the United States. "With potential borrowers already facing record high interest rates, steep home prices, and supply-chain issues increased fees and scarcity of bank lenders could be another brick in the wall stopping Americans from obtaining meaningful homeownership and wealth creation." BANK POLICY INSTITUTE CEO GREG BAER "Today’s proposal would unnecessarily increase the amount of required capital for banks, with resulting harm for consumers and small businesses and a continued migration of financial activity into unregulated parts of the financial sector." Even larger bank lenders could continue to retreat from mortgage lending or impose sharp increase in fees passed along to borrowers." markets have been since the Global Financial Crisis.ĪNDY DUANE, ATTORNEY AT POLUNSKY BEITEL GREEN "Raising capital requirements could see regional banks shift away from mortgage lending. SECURITIES INDUSTRY AND FINANCIAL MARKETS ASSOCIATION CEO KENNETH BENTSEN "Regulators have failed to provide justification for such an increase in capital requirements for the trading book, particularly given how resilient U.S. And so there's still a lot of flexibility for banks to understate their level of risk, especially in the area of operational risks," she said. "Big banks are still allowed to use very complex models that only a minority of people really understand. ![]() "Unfortunately, they do not go far enough in order to measure operational risk, market risk, and even to a certain extent credit risk." MAYRA RODRIGUEZ VALLADARES, MANAGING PRINCIPAL OF MRV ASSOCIATES It's somewhere between two and four years away." But there's going to be a long period of negotiation and politics before implementation. "This is probably close to the worst case of what it could be. "This is a very long process and any instant reaction to it is probably misplaced." "Regulators and other policymakers should carefully consider the harmful economic impact of this proposal along with the demonstrated strength of the banking industry, the competitive advantage it may provide large European banks, and the movement of banking services into the non-bank sector." RICK MECKLER, PARTNER, CHERRY LANE INVESTMENTS IN NEW VERNON, NEW JERSEY FINANCIAL SERVICES FORUM CEO KEVIN FROMER "There is no justification for significant increases in capital at the largest U.S. ![]()
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