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Thursday, February 14, 2013

Sens. Johnson, Crapo Urge Regulators to Address Basel III Concerns

Senate Banking Committee Chairman Tim Johnson (D-S.D.) and panel ranking member Mike Crapo (R-Idaho) yesterday urged federal banking regulators to carefully consider how the Basel III capital proposals would affect community banks and to ensure that here are no unintended consequences.

In a letter the lawmakers noted that there are several Basel III issues that may adversely impact smaller banks.
[W]e are concerned that the proposed treatment of accumulated other comprehensive income, or AOCI, may increase volatility and make interest-rate risk more difficult for small banks to manage.
The senators added that they are also concerned that the Basel III proposed risk weights could hurt small banks’ ability to offer and service mortgages, especially in rural areas.

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