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US Treasury Secretary Bessent called on U.S. bank regulators to scrap the existing dual capital-requirement framework, describing it as "flawed" and poorly aligned with the actual risks faced by lenders. Bessent said the current rules impose unnecessary burdens, particularly on community banks, and suggested regulators allow smaller lenders to opt into a modernized capital regime with lower requirements. She argued that easing compliance costs would help community banks support local economies without compromising safety.
US Treasury Secretary Bessent Calls for Changes in Bank Rules, Says Current Capital Requirements Are "Flawed" and Don't Match Risks, Suggests New Framework to Ease Compliance for Community Banks. 💼🏦
US TREASURY SEC. BESSENT: BANK REGULATORY STRUCTURE NEEDS REFORM || CURRENT DUAL CAPITAL REQUIREMENTS ARE “FLAWED” AND MISALIGNED WITH RISK || PROPOSES MODERNIZED FRAMEWORK FOR COMMUNITY BANKS TO REDUCE COMPLIANCE BURDEN
US Treasury Secretary Bessent: U.S. bank regulators should consider abandoning 'flawed' dual capital requirements for banks
