Prudential rules have made the financial system safer and stronger, and recent studies have found capital levels in the U.S. banking system are now optimal - balancing financial stability with economic growth. Further increases, including those being considered with the Basel III Endgame reforms, will have significant economic costs particularly on U.S. capital markets. Policymakers should take into account the totality of prudential reforms and work towards a level of bank capital that provides a substantial margin of safety without impairing economic growth, lending, and capital markets activities.
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