Federal Reserve Chair Jerome Powell has announced plans to significantly revise a controversial regulatory proposal, known as the Basel III End Game, by the end of the year. This move, signaling a potential victory for Wall Street banks, comes after Powell's commitment to "broad and material changes" and his willingness to redo the proposal, which has faced criticism from large banks for its stringent requirements.
Federal Reserve's Powell: Regulatory proposal criticized by banks will be revised by end of year https://t.co/n0kTMxu8Ib
A sweeping bank regulatory proposal will be significantly revised by year's end, Federal Reserve Chair Jerome Powell said Thursday, a potential victory for the large banks that have aggressively opposed the likely changes. https://t.co/dZiXxmiQDj
Jerome Powell seems ready to hand a victory to big banks, saying "broad and material" changes are coming to key regulation. https://t.co/FOvzcaKjA5
Regulatory proposal criticized by banks will be revised by end of year, Fed’s Jerome Powell says https://t.co/rENejnHCpi
.#WallStreet #banks will be relieved with what #FederalReserve Chair Powell just said about his willingness to redo the so-called "Basel lII End Game." The Chair reinforced the expectation he stated yesterday of "broad and material changes to the proposals." #economy #centalbanks
.#WallStreet #banks will be relieved with what #FederalReserve Chair Powell just said about his willingness to redo the so-called "Base lII End Game." The Chair reinforced the expectation he stated yesterday of "broad and material changes to the proposals" #economy #centalbanks