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Bank Capital Rules: Federal Reserve Approves NPRs Addressing Basel III Implementation and Substantial Revisions to Basel I-Based Rules for all Banks and Finalizes Amendments to Market Risk Rules by Sullivan Cromwell LLP - New York Office
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June 15, 2012
Previously published on June 8, 2012
Yesterday afternoon, the Board of Governors of the Federal Reserve System (the “FRB”) approved for publication three notices of proposed rulemaking (the “NPRs”) substantially amending the risk-based capital rules for banks. The FRB also approved final amendments to the market risk rules (the “Market Risk Amendments”), often referred to as “Basel II.5”. The NPRs and Market Risk Amendments are meant to be joint rulemakings with the Office of the Comptroller of the Currency (the “OCC”) and the Federal Deposit Insurance Corporation (the “FDIC” and, together with the OCC and the Federal Reserve the “Agencies”) and will be published in the Federal Register after approval by the OCC and the FDIC, which is expected during the next several weeks.
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