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Monday, June 20, 2016

Crapo, Tester Call for Simplified Capital, Reporting Requirements

In a letter to Federal Reserve Chair Janet Yellen, Sens. Mike Crapo (R-Idaho) and Jon Tester (D-Mont.) called for regulators to provide simpler capital rules and reporting requirements for community banks through the Economic Growth and Regulatory Paperwork Reductions Act process, a decennial review now winding down.

The lawmakers encouraged the Fed to reconsider the necessity of having four minimum capital requirements, the capital conservation buffer and the complex definition of tier 1 capital. They also raised concerns about the increased time required to complete the quarterly Call Reports.

Read the letter.

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