TCH Strongly Supports Regulatory Capital Rules Proposal
FOR IMMEDIATE RELEASE
New York, NY – February 18, 2015 – Late yesterday, The Clearing House Association (TCH) filed a comment letter with U.S. bank regulators on proposed revisions to the U.S. Basel III capital rules for banks with consolidated total assets of at least $250 billion and consolidated on balance sheet foreign assets of at least $10 billion, expressing its strong support for the proposed revisions.
“With this proposal the OCC, Federal Reserve and FDIC have provided additional clarity that will better enable banks to implement and comply with these important capital standards,” said David Wagner, Executive Managing Director and Head of Finance, Risk and Audit Affairs at The Clearing House Association.
Recognizing that the revised capital rules are complex, the letter also includes several technical suggestions aimed at further improving the regulatory capital framework, including recommendations for the agencies to make corresponding clarifications to the standardized approach for regulatory capital and to conform the treatment of transactions by a clearing member acting as a riskless principal to the treatment of such transactions under the supplementary leverage ratio rule and under European Union rules.
About The Clearing House Established in 1853, The Clearing House is the oldest banking association and payments company in the United States. It is owned by the world’s largest commercial banks, which collectively hold more than half of all U.S. deposits and which employ over one million people in the United States, and more than two million people worldwide. The Clearing House Association L.L.C. is a nonpartisan advocacy organization that represents the interests of its owner banks by promoting and developing policies to support a safe, sound and competitive banking system that serves customers and communities. Its affiliate, The Clearing House Payments Company L.L.C., which is regulated as a systemically important financial market utility, owns and operates payments technology infrastructure that provides safe and efficient payment, clearing and settlement services to financial institutions, and leads innovation and thought leadership activities for the next generation of payments. It clears almost $2 trillion each day, representing nearly half of all automated clearing-house, funds transfer and check-image payments made in the United States. See The Clearing House’s web page at www.theclearinghouse.org.