Bowman Stands Firm Opposing Pending Rules

Making clear that her concerns with pending rules have in no way abated, FRB Governor Bowman today stated that any proposal considered by the Board or jointly with the other banking agencies must be focused on remediating the identified concerns, informed by data and genuine discussion within each participating agency and with policymakers, and developed through a transparent process that is open to public comment.  Citing the FRB’s recent proposals including the Basel III endgame (see Client Report CAPITAL234), LTD requirements (see FSM Report TLAC9), and the CRA rewrite (see FSM Report CRA32), she acknowledges that multiple interrelated proposals may complicate submitting meaningful comments, emphasizing the importance of stakeholder feedback.