Bowman Says Basel a Priority But Can’t Look at Capital in Vacuum

The Federal Reserve’s top bank cop said that unveiling plans tied to Basel III are a priority but emphasized the new proposal must fit into the broader framework of capital rules for banks.

“That’s one of the priorities that we have but we can’t look at capital in a vacuum,” Vice Chair for Supervision Michelle Bowman said Tuesday at the Santander International Banking Conference in Madrid.

Michelle Bowman

Photographer: Samuel Corum/Bloomberg

Bloomberg reported last month that the Fed has shown other US regulators the outlines of a revised plan that would dramatically relax a Biden-era bank capital proposal for Wall Street’s largest lenders. ...