Fed leadership divided on proposed capital rules
Powell warns rules could push activity into shadow banking
The US Federal Reserve started a public comment period for proposals to implement Basel III capital standards on July 27, causing a rift in its own board.
In addition to the Basel guidance, the Fed and its fellow regulators are proposing extra capital requirements for banks with over $100 billion US dollars in assets.
The Federal Reserve Board was split by the proposals, with vice-chair for supervision Michael Barr emerging the most vocal supporter. Several other board members, including chair
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