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Basel III bank capital rules delayed

The Board of Governors of the Federal Reserve System, the FDIC and OCC announced today that due to the large volume of Basel III comment letters received, the agencies have indefinitely postponed rules requiring more bank capital.

The letter states, "In light of the volume of comments received and the wide range of views expressed during the comment period, the agencies do not expect that any of the proposed rules would become effective on January 1, 2013."

The letter goes on to mention that many industry participants have expressed concern they may be subject to a final regulatory capital rule on Jan. 1, without sufficient time to understand the rule or make necessary systems changes.

You can read the entire letter by clicking here.
 

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