Hollingsworth Statement on Federal Reserve Approval of Post-Crisis Capital FrameworkMarch 5, 2020WASHINGTON, D.C. – Representative Trey Hollingsworth (R-IN) released the following statement on the Federal Reserve’s finalized stress capital buffer: “I am pleased by the Federal Reserve Board’s efforts to finalize the key components of the stress capital buffer to simplify the post-crisis capital framework for this year’s round of stress tests. I am encouraged by the details of the proposal, and I look forward to working with the Fed to continue to streamline the capital regime, including by recalibrating the GSIB surcharge, in order to level the international playing field.” said Rep. Hollingsworth. In December 2019, Rep. Hollingsworth led a letter to Chairman Powell and Vice Chairman Quarles requesting updates on the Board’s review of the post-crisis regulatory framework. The letter requested information regarding the calculation of a capital surcharge that applies to the largest banks, and how the review impacted the development of the stress capital buffer. The letter also requested transparency of the stress test and the scenarios developed as part of the Comprehensive Capital Analysis and Review program. The letter was signed by all House Financial Services Republicans and is available here. Following the letter, Rep. Hollingsworth emphasized to both Chairman Powell, on February 11, 2020, and Vice Chairman Quarles, on December 4, 2019, the importance of the Board’s commitment to review our regulatory measures to ensure that they are as transparent as possible and are best suited to support lending and economic growth. View Rep. Hollingsworth’s remarks during the hearings: |