August 31, 2014
August 30, 2014
August 29, 2014
August 28, 2014
Banking Agencies Expect to Delay Implementation of New Capital Rules Beyond January 1, 2013
On November 9, the US federal banking agencies announced that they expect to delay implementation of three notices of proposed rulemaking released in June that would revise and replace the current regulatory capital rules. The proposals had suggested an effective date of January 1, 2013. According to the agencies, "Many industry participants have expressed concern that they may be subject to a final regulatory capital rule on January 1, 2013, without sufficient time to understand the rule or to make necessary systems changes. 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. As members of the Basel Committee on Banking Supervision, the US agencies take seriously our internationally agreed timing commitments regarding the implementation of Basel III and are working as expeditiously as possible to complete the rulemaking process. As with any rule, the agencies will take operational and other considerations into account when determining appropriate implementation dates and associated transition periods."
The agencies did not release a new expected implementation date.
The release may be viewed here.
<span class="advertise"> Advertisement </span>
- SEC Charges New York Executive With Insider Trading Ahead of Client Announcements
- Commodity Futures Trading Commission (CFTC) Staff Issues Interpretation of Secured Amount Depository Requirements
- SEC Announces FINRA Pilot Program to Widen Tick Sizes for Smaller Companies
- North Carolina General Assembly Fails to Jump Start Our Businesses with Crowdfunding Legislation
- ISDA (International Swaps and Derivatives Association) Publishes Protocol for 2014 Credit Derivatives Definitions
- Divided Fourth Circuit Panel Rules On Burden of Proving Loss Causation in ERISA Fiduciary Breach Case