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ABA: The American Bankers Association
Statement
  • For Immediate Release
  • October 20, 2023

ABA Statement on Basel III Data Analysis and Deadline Extension

“While we appreciate that regulators have extended the comment period and decided to collect data to inform one of the most significant regulatory proposals in years, today's actions are still not enough to fix a fundamentally flawed process. The new deadline would still require the public to comment on the proposed capital changes before anyone has a chance to evaluate the data collected by the quantitative impact study, which simply makes no sense. Given the potential impact this rulemaking could have on the U.S. economy, we again call on the regulatory agencies to withdraw and re-propose the rule to allow for a full assessment of the data underlying the proposal. This is too important to get wrong.”

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About the American Bankers Association

The American Bankers Association is the voice of the nation’s $24.2 trillion banking industry, which is composed of small, regional and large banks that together employ approximately 2.1 million people, safeguard $19.1 trillion in deposits and extend $12.6 trillion in loans.

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