WASHINGTON, June 21 (Reuters) - U.S. Federal Reserve Chairman Jerome Powell on Wednesday said it is of "central importance" that banks have high levels of capital, but regulators must be mindful of the tradeoffs in ordering large reserves.

Powell told the House Financial Services Committee that the Fed is considering multiple proposals on bank oversight but none are ready to be presented to the board for a vote yet. (Reporting by Pete Schroeder; Editing by Mark Porter)