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FOR IMMEDIATE RELEASE
ICBA Supports Fed Rule Requiring Stronger Capital Levels at Megabanks
Washington, D.C. (July 20, 2015)—Independent Community Bankers of America® (ICBA) President and CEO Camden R. Fine released this statement on the Federal Reserve Board’s final rule requiring the largest and most systemically important U.S. bank holding companies to further strengthen their capital positions.
“ICBA supports the Federal Reserve Board’s final rule requiring stronger capital reserves for the nation’s largest and riskiest financial institutions. As ICBA wrote in a recent comment letter, risk-based capital surcharges on the largest too-big-to-fail megabanks will help ensure they maintain sufficient levels of high-quality capital.
“Today’s final rule will prevent the megabanks—which in recent years caused the worst financial crisis since the Great Depression—from distributing capital when it is most urgently needed. Enhanced supervision of these systemically important financial institutions (SIFIs) together with a significant capital surcharge will provide more stability to our financial system and discourage SIFIs from becoming even larger and more interconnected.”
About ICBA
The Independent Community Bankers of America®, the nation’s voice for more than 6,000 community banks of all sizes and charter types, is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education and high-quality products and services.
