FIA strongly opposes Basel III Endgame Proposal

Proposals would dramatically increase capital requirements for banks offering derivatives clearing services

16 January 2024

FIA has warned US banking regulators that it has "serious concerns" about provisions in the Basel III Endgame Proposal that change the capital treatment of derivatives clearing activities that US banks provide to their clients. In letters filed today with the three agencies that issued this proposal the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency FIA said the proposed changes would increase the capital required to engage in client clearing activities by more than 22%, and therefore could lead to higher costs for end users such as agricultural businesses, insurance companies and pension funds. 

Read the letter in full.

Read the press release.

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