U.S. Moves Forward on Implementing Global Bank Rules
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U.S. regulators moved ahead with implementing global bank capital rules, releasing language for measures proposed in previous years, even as the international body overseeing the framework makes adjustments.
The Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency yesterday published a revised version of rules that were decided in 2009, dictating for instance how much capital banks need to back mortgage-linked securities. The regulators also proposed another set of rules that will translate for U.S. lenders a more fundamental overhaul of the capital regime drawn up by the Basel Committee on Banking Supervision in 2010.