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Fed, OCC extend comment period for bank leverage proposal

The Federal Reserve and Office of the Comptroller of the Currency are extending the comment period for a proposal that would effectively reduce leverage requirements for the largest U.S. banks.

The two agencies have proposed adjusting how the enhanced supplementary leverage ratio is calculated. The requirement applies to the eight U.S.-based banks that regulators deem global systemically important banks, or G-SIBs.

Comments on the proposal were originally due May 21, but the two agencies extended the deadline until June 25.

Fed Governor Lael Brainard dissented on the proposal when the two agencies released it last month, and the Federal Deposit Insurance Corp. did not join the announcement.