• Bank Capital Rules: Federal Reserve Approves Final Rules Addressing Basel III Implementation and, for All Banks, Substantial Revisions to Basel I-Based Rules
  • July 5, 2013
  • Law Firm: Sullivan Cromwell LLP - New York Office
  • Yesterday, the Board of Governors of the Federal Reserve System (the “FRB”) unanimously approved final rules (the “Final Rules”) establishing a new comprehensive capital framework for U.S. banking organizations that would implement the Basel III capital framework as well as certain provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”). The Final Rules largely adhere to the rules as initially proposed in June 2012 (the “Proposed Rules”), notwithstanding that the industry objected, sometimes strenuously, to certain aspects of the Proposed Rules.