Top bank regulator says agencies ‘open-minded’ about capital hike tweaks

WASHINGTON (Reuters) – A leading U.S. bank regulator said Tuesday that the government will be “open-minded” about making changes to a contentious plan to raise large bank capital requirements.

Michael Hsu, the acting Comptroller of the Currency, said regulators are carefully considering numerous comments critical of the so-called “Basel III endgame” proposal, which the industry has decried as overly burdensome. At the same time, he defended robust capital requirements for the largest banks, saying it is critical to ensure they can withstand shocks.

(Reporting by Pete Schroeder)