Board of Governors of the Federal Reserve System

I support the issuance of the proposals. Vice Chair Bowman and the staff have taken great care to develop a group of proposals that improve the risk sensitivity of the capital framework while reducing its current burden. While that burden initially falls on banks, it can be carried through to Main Street and the rest of the economy in the form of reduced lending. For that reason, I think it is critical that we strike a balance that ensures the banking system remains sound and resilient but does not impose any excess requirements. In addition, as I've previously noted, right-sizing the regulatory framework helps with other aspects of our remit. As I review the comments, I will be eager to hear the public's view of whether the proposals achieve that balance, or if there is further capital relief that can and should be provided.