Federal Reserve Chairman Warsh Prioritizes Economic Growth in Basel Capital Rule Finalization

Federal Reserve Chairman Kevin Warsh, in his first semiannual testimony, stated that supporting U.S. economic growth will be a priority as banking regulators finalize the Basel capital rule. He emphasized the goal of making the U.S. financial system and banks safer, sounder, and more competitive. Additionally, federal banking agencies released updated guidance for handling sensitive bank data during the supervisory process to reduce cybersecurity risks.