Washington, D.C. — Bank Policy Institute President and CEO Greg Baer issued the following response to remarks by Federal Reserve Vice Chair for Supervision Michael Barr at an event today hosted by the Bipartisan Policy Center:
Remarkably, Vice Chair Barr’s “holistic capital review” apparently did not include any consideration of the cost of capital requirements – costs to economic growth, credit availability, market liquidity or the economy as a whole. It is thus an atomistic rather than holistic review – a benefit-benefit analysis of capital requirements. We hope that others will take a broader view of the facts and reach different conclusions.
About Bank Policy Institute.
The Bank Policy Institute (BPI) is a nonpartisan public policy, research and advocacy group, representing the nation’s leading banks and their customers. Our members include universal banks, regional banks and the major foreign banks doing business in the United States. Collectively, they employ almost 2 million Americans, make nearly half of the nation’s small business loans, and are an engine for financial innovation and economic growth.