The Federal Reserve held a conference to discuss rewriting bank rules set after the 2008 financial crisis. The outcome could save large banks billions in capital costs, potentially allowing more lending. Fed Chair Powell emphasized the importance of a safe and efficient banking system. Fed Vice Chair Bowman spearheaded the event to reconsider longstanding bank requirements.

Regulatory officials, bankers, industry lawyers, and experts discussed major bank capital requirements, leverage requirements, surcharges on large global banks, and stress tests. Banks argue rules have become burdensome and outdated, pushing financial activity to less regulated non-banks. The industry successfully opposed a Basel III endgame proposal to raise capital requirements. Discussions are ongoing to ease bank burdens and minimize the impact of new risk measurements.

Read more at Yahoo Finance: Fed officials, banking experts discuss regulatory rewrite effort at conference