IIF Statement on Federal Reserve Vice Chair Michael Barr's Remarks on Capital Requirements

Today, Institute of International Finance (IIF) President and CEO Tim Adams issued the following statement in response to remarks by Federal Reserve Vice Chair for Supervision Michael Barr previewing the revised Basel III capital proposal.

“The IIF welcomes the progress made in today's announcement on the reproposal of the Basel III capital requirements. As we face a historic confluence of challenges, constraining the financial sector’s capacity to support growth and economic activity would be counterproductive. Through lending and vibrant capital markets, the financial sector is critical for economic growth, capital formation, job creation and prosperity.

We remain committed to fostering a robust, safe, and transparent financial system that benefits all stakeholders, but effective regulation should be fit for purpose, reflecting the dynamic and ever-evolving competitive environment in which financial institutions operate."

###

About the Institute of International Finance (IIF)

The Institute of International Finance (IIF) is the global association of the financial industry, with about 400 members from more than 60 countries. The IIF provides its members with innovative research, unparalleled global advocacy, and access to leading industry events that leverage its influential network. Its mission is to support the financial industry in the prudent management of risks; to develop sound industry practices; and to advocate for regulatory, financial, and economic policies that are in the broad interests of its members and foster global financial stability and sustainable economic growth. IIF members include commercial and investment banks, asset managers, insurance companies, professional services firms, exchanges, sovereign wealth funds, hedge funds, central banks, and development banks. To learn more about IIF, please visit www.iif.com, follow us on Twitter, LinkedIn or YouTube, or check out IIF’s podcasts.