Bowman Says US Regulators Reached Consensus on Basel Plan (2)

Federal Reserve Vice Chair for Supervision Michelle Bowman said regulators are getting close to releasing a revised version of a landmark US bank capital proposal known as Basel III endgame.

“We’re working together with the OCC and the FDIC to ensure that we can introduce that proposal before the end of March,” Bowman said at a Senate Banking Committee hearing on Thursday, referring to the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency. Asked whether officials have reached a consensus on the plan, she said yes.

Michelle Bowman, vice chair for supervision at the US Federal Reserve, during a House Financial Services Committee hearing in Washington

Photographer: Graeme Sloan/Bloomberg

US regulators plan to publish the proposal ...