Shelby pushes banking regulators for Basel III analysis

The bill comes as the U.S. is working with banking regulators across the globe to implement Basel III, as the new requirements come under growing scrutiny on Capitol Hill. Under the legislation, banking regulators would be required to conduct and publish an in-depth study of the impact of the changes, including what the cumulative impact the rules would have on the nation's economic growth and the availability of credit to low- and moderate-income Americans.

Shelby previously pressed banking regulators in October on the new capital requirements, writing in a letter that regulators should make public studies determining the costs and benefits tied to the new rules, and whether the international agreement is appropriate for the U.S. banking system.

The new international requirements were originally supposed to take effect on Jan. 1, but regulators announced in November that they were delaying implementation indefinitely as regulators continue putting together the rules.