MNI BRIEF: Fed's Powell Still Committed To Basel III Endgame

Federal Reserve Chair Jerome Powell said the central bank remains committed to completing negotiations on new banking rules known as the Basel III endgame when other banking regulators get new leaders. 

"We remain committed to completing Basel III endgame. Where it sits now is we await leadership arriving at the OCC and the FDIC and work our way through," Powell said. "I’m optimistic that we can do that fairly quickly." 

Asked whether he expected major changes to capital requirements for the nation's largest banks, Powell said he thinks “the level of capital in the largest banks is about right."