Joint Press Release: Banking Agencies Provide Guidance on Regulatory Capital Rulemakings

The U.S. federal banking agencies issued three notices of proposed rulemaking in June that would revise and replace the current regulatory capital rules. The original proposals had suggested an effective date of January 1, 2013. 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' new proposals do not project that any of the proposed rules would become effective on January 1, 2013. The various banking agencies stated that they will take operational and other considerations into account when determining appropriate implementation dates and associated transition periods.

See: FRB Press Release; FDIC Press Release; OCC Press Release.