By increasing standardization, these reforms aim to increase transparency and public confidence in risk-weighted assets while also reducing complexity. As we speak, the staffs of the U.S. federal banking agencies are diligently working on a Basel III endgame proposal that should be issued for public comment soon.
At the same time, the Federal Reserve staff is considering ways to enhance the ability of stress tests to capture a wider range of risks and identify vulnerabilities at the largest banking organizations. Conclusion Based on this brief overview of the issues, this afternoon promises to be invigorating and informative. I look forward to hearing how the panel discussions go.