FIA joined with the Securities Industry and Financial Markets Association in submitting a comment letter to US banking regulators regarding the operational risk elements of their proposed changes to US bank capital requirements. The letter notes that the proposed changes would require banking organizations to hold capital against fee-based business activities such as retail brokerage, investment advisory services, custody and client clearing of derivatives. These businesses are relatively low risk and the proposed changes would result in an “unnecessarily high calibration of required capital.”
Read the comment letter.
