WASHINGTON, D.C. - Following the release of the Basel proposal, the Consumer Bankers Association, Bank Policy Institute, American Bankers Association, Financial Services Forum and National Bankers Association issued a joint statement:

"Modernizing the U.S. bank capital framework supports consumers, job creators and communities across the country. Today's proposal marks an important step forward. We welcome regulators' efforts to enable banks of all sizes to make more loans to American businesses and households, fueling economic growth while maintaining resilience in the banking system. We will carefully review the proposal and expect to provide feedback after assessing the impact on our members and the millions of customers they serve. We continue to appreciate regulators' willingness to hear perspective from all stakeholders, and their commitment to thoughtfully consider the cumulative effect of all capital requirements."