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Wednesday, July 3, 2013

Tarullo: U.S. G-SIFIs Should Expect Four More Proposals to Enhance Capital Standards

Yesterday, Federal Reserve Governor Tarullo identified four additional rules that are in various stages of development to enhance the capital requirements for the eight U.S. banking organizations already identified as of global systemic importance.

First,the Federal reserve is close to completing a proposed rule that will establish a leverage ratio threshold for these firms above the Basel III required minimum.

Second, a proposed rule will be issued in the next few months "concerning the combined amount of equity and long-term debt these firms should maintain in order to facilitate orderly resolution in appropriate circumstances."

Third, late this year the Federal Reserve will issue a proposal to implement a framework of capital surcharges on U.S. banking organizations of global systemic importance.

Fourth, Federal Reserve "staff is currently working on a recommendation ... on possible approaches to requiring additional measures that would directly address risks related to short-term wholesale funding, including a requirement that large firms substantially dependent on such funding hold additional capital."

Read Tarullo's statement.

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