By Frank Keating, ABA President and CEO
“We appreciate regulators’ efforts to create a rule that focuses on adequate amounts of high-quality capital, which is really what Basel III is all about. While today’s rule brings us closer to achieving that goal, it’s clear that finalizing optimal capital rules for bank customers and our economy will require continued work from all stakeholders. We appreciate regulators’ willingness to listen to an unprecedented number of comment letters submitted by thousands of ABA member banks, all of our country’s state bankers associations and every state banking regulator. Those efforts clearly had an impact, and we’re hopeful this open line of communication will continue as the process moves forward."
Read the full statement.