Gate News reports that on March 12, Federal Reserve Vice Chair for Supervision, Michael Barr, stated that after revising comprehensive bank capital rules, capital requirements for large banks will decrease slightly. This is seen as a significant victory for Wall Street banks, which previously successfully resisted an early draft that proposed raising capital requirements. Barr outlined adjustments to the Basel Accords (international banking regulatory standards) and the Global Systemically Important Bank (G-SIB) surcharge, which determine how much capital banks must hold to absorb potential losses. She said that by “reasonably calibrating” the existing rules, overall capital requirements for large banks will “slightly decrease.” She also noted that these adjustments will eliminate overlapping regulatory standards and better align capital requirements with banks’ actual risks, while criticizing the recent trend of increasing loss buffer capital as a deviation.
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