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US Fed’s Powell says he'll work on Basel III with new FDIC, OCC chiefs

By Neil Roland ( February 11, 2025, 23:04 GMT | Insight) -- US Federal Reserve Chair Jerome Powell said he will coordinate with the new heads of the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp. on Basel III capital requirements that he hopes won’t impose new burdens on US banks. “Basel III was not supposed to be an exercise in raising capital in US banks,” Powell told the Senate Banking Committee.  “We have some work to do, but we’ll get there” on the proposal “fairly quickly.”US Federal Reserve Chair Jerome Powell said he will coordinate with the new heads of the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp. on Basel III capital requirements that he hopes won’t impose new burdens on US banks....

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