Barr Speech on the Basel Endgame: Many Comments Unaddressed

In February 2024, we issued a report on the public comments received on the proposal of the Board of Governors of the Federal Reserve System (Federal Reserve), the Office of the Comptroller of the Currency (OCC), and the Federal Deposit Insurance Corporation (FDIC, and together with the OCC and the Federal Reserve, the Banking Agencies) to implement the Basel Endgame (Proposal). We found that the Proposal had drawn an unprecedented amount of criticism — more than 97% of the 356 commenters whose letters we deemed material, including 300 from non-banks, opposed the Proposal in full or raised substantial concerns with it in part.