MBA Statement on Kevin Warsh’s Confirmation as Federal Reserve Chairman 

MBA’s President and CEO Bob Broeksmit, CMB, released the following statement on the Senate’s confirmation of Kevin Warsh to serve as Chairman of the Federal Reserve:  

“MBA congratulates Kevin Warsh on his confirmation as Chairman of the Federal Reserve. His experience in financial markets and thoughtful approach to monetary policy will serve the country well during this pivotal period for the economy.

“We look forward to continued engagement on policies affecting the banking and housing finance systems and will continue advocating for a more balanced and risk-aligned approach to capital standards affecting mortgage lending and commercial real estate finance. This includes our recommendations on the Basel III re-proposal, which will include reducing the risk weight on mortgage servicing assets to 100% and eliminating their cap included in Tier 1 capital, reducing the risk weight to 50% on warehouse lending lines, and better calibrating capital requirements for commercial and multifamily real estate lending and community investment activities.”