U.S. Senator Bob Corker, R-Tenn., a member of the Senate Banking Committee, praised the proposal released today by the FDIC that would enhance overall regulatory leverage ratios for banks.
“During the Basel III rulemaking process, I pointed out some of the weaknesses in using overly complicated risk-based capital standards, and I’m happy to see that the regulators are moving forward on a new rule to constrain excessive leverage through the use of a more simple and effective ratio that will help curb a lot of the gaming that goes on with risk weights,” said Corker.
In April, Corker was joined by U.S. Senators Sherrod Brown, D-Ohio, David Vitter, R-La., Elizabeth Warren, D-Mass., and Susan Collins, R-Maine in writing to Federal Reserve Governor Daniel K. Tarullo, Comptroller of the Currency Thomas Curry, and Chairman of the FDIC Martin Gruenberg. Copies of the letter and response are attached.
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