http://www.bizjournals.com/birmingham/news/2012/11/09/feds-to-delay-basel-iii-requirements.htmlFriday, November 9, 2012, 2:58pm CST
Federal banking regulators today announced they will delay the Basel III capital requirements.
Many industry participants have expressed concern that they may be subject to a final regulatory capital rule on Jan. 1, without sufficient time to understand the rule or to make necessary systems changes, the Federal Reserve, Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency said in a joint press release
The federal agencies said they haven’t determined new implementation dates and associated transition periods.
http://www.fdic.gov/news/news/press/2012/pr12130.htmlThe U.S. federal banking agencies issued three notices of proposed rulemaking in June that would revise and replace the current regulatory capital rules. The proposals 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 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 U.S. 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.