ICBA Statement on Minneapolis Fed Plan to End Too-Big-To-Fail
Washington, D.C. (Nov. 16, 2016)—Independent Community Bankers of America® (ICBA) President and CEO Camden R. Fine released the following statement on today’s Federal Reserve Bank of Minneapolis plan to end too-big-to-fail.
“ICBA commends the Federal Reserve Bank of Minneapolis for its important work and analysis on the matter of systemic risk and ending too-big-to-fail. ICBA generally supports enhanced prudential standards and higher capital requirements for the largest banks as well as further regulatory requirements on the shadow banks to reduce the systemic risk they pose to our financial system and economy.
“ICBA also commends the Minneapolis Fed for its recognition that reducing unnecessary regulatory burdens on community banks is essential to promoting a stronger, safer and more secure financial system. We look forward to continuing to work with the Minneapolis Fed and others to advance policies that mitigate community bank overregulation and systemic risks to our financial system.”
The Independent Community Bankers of America®, the nation’s voice for nearly 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.