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Thursday, November 29, 2012

Poston to Testify Today at Joint Basel III Hearing

ABA banker Daniel Poston will testify today on the Basel III capital proposals' impact at a joint hearing of the House Financial Institutions Subcommittee and Insurance, Housing and Community Opportunity Subcommittee.

Poston, EVP and CFO at Cincinnati-based Fifth Third Bancorp, focuses his testimony on the following four key points:
  • The proposed capital requirements would unnecessarily burden economic activity; 
  • The proposed risk weights would redirect credit in an abrupt and harmful manner; 
  • Empirical study is needed to develop capital rules that work for the U.S. banks, large and small; and
  • Capital rules for all banks should be simpler and more directionally and proportionally aligned with risks.
Read more and watch the live webcast at 10 a.m.

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