"Regulators Anticipate Major Changes to Basel Capital Rules Amid Bank Resistance"

Federal Reserve Chairman Jerome Powell expects "broad, material" changes to the contentious Basel III endgame proposal, acknowledging industry concerns about its cost and economic impact. He indicated that regulators are reconsidering the proposal and may seek broad support for the final product, not ruling out the possibility of reproposing the rule for further feedback, which could lead to significant delays. This proposal aims to raise large bank capital requirements, but banks have strongly opposed it, citing it as misguided and overly costly.