Posted 3/6/2024, 9:35:41 PM
Powell Signals Easing Bank Capital Rules, a Win for Wall Street
- Wall Street banks poised for regulatory win after Powell signals scaling back capital requirements
- Powell said government's bank capital plan is in for "broad and material changes", even possible complete redo
- Banking industry has mounted fierce lobbying campaign against capital plan with CEO appearances, ads, comments
- Powell inserted himself into debate with rare blunt comments, seen as big victory for industry groups
- Plan's supporters say tougher capital buffers needed after recent big bank failures, but face criticism they underestimate impacts