Brown submitted a prepared statement for the record.
07/27/2022
https://congress.gov...
Market participants may continue to perceive that some institutions receive special treatment by virtue of their size.
The market understands what Basel III is about, and the market assumes Basel III will go into effect.
Their fears are not allayed in this and their worst nightmares may be realized if we do not act on this.
It also pulls us out of Basel III, so it deals with a lot of those issues in a way that I want to ask Secretary Lew about.