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Agencies Support Conclusion of Reforms to International Capital Standards
On Thursday, December 7, 2017, the FDIC, OCC and the Federal Reserve Board announced their support for the conclusion of efforts to reform the international bank capital standards initiated in response to the global financial crisis. The agencies will consider how to appropriately apply these revisions to the Basel III reform package in the United States and any proposed changes based on this agreement will be made through the standard notice-and-comment rulemaking process.
The Basel III agreement, which was designed for internationally active banks, was introduced in 2010 and was instrumental in establishing revised minimum standards that increased both the quality and quantity of regulatory capital. The reforms finalized today are intended to improve risk sensitivity, reduce regulatory capital variability, and level the playing field among internationally active banks.