Time is Now for Community Bankers To Act on Basel III
Comment Letters, Petition Signatures Essential by Oct. 22
One of the most important regulatory comment deadlines in memory will be here in a couple short weeks. For any community bankers out there who haven’t submitted a comment letter on the Basel III proposed capital standards or told everyone they know to sign ICBA’s petition to exempt the industry—now is the time to do so. And we mean right now. To be successful, we need every community banker to write a letter and sign the petition.
ICBA is here to help. Our comprehensive Basel III webpage features guidelines for drafting comment letters, a link to the regulators’ calculator for determining the impact on your bank, insertable talking points, information on where to send your comment letter, and more.
In the federal regulators’ proposed rules to implement the Basel III capital standards, all banks and thrifts would be subject to the new requirements, regardless of size. A capital framework designed to reduce risks at globally active financial institutions will be applied to all Main Street community banks and thrifts.
These proposed rules would be a disaster for community banks. If the federal banking regulators truly want to reduce this nation’s commercial banking system to a handful of banks, imposing Basel III capital rules on community banks will do it!
Let the regulators know that these complex regulations are unwise and counterproductive. Send them a letter and tell everyone you know to sign our petition. We have one shot at this, so don’t leave anything behind!