In a joint letter to federal regulators, Republican members of the U.S. Senate Banking Committee led by Chairman Mike Crapo (R-ID), urged the agencies to advance several pro-community bank policies, including unfinished measures from the S. 2155 regulatory relief law. The letter urged the agencies to advance several initiatives strongly advocated by ICBA and IBANYS, including
- Implementing an 8% Community Bank Leverage Ratio to maximize the community bank exemption from risk-based capital rules,
- Expanding on the limited relief provided under their final rule implementing a short-form call report for many community banks, and
- Further offsetting the potential negative effects of the Current Expected Credit Loss accounting standard on bank lending.
ICBA continues working closely with Congress and the regulators to maximize and expand on the community bank regulatory relief policies of S. 2155.