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Regulators extend capital rules to stop Basel III phase-in

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Regulators extend capital rules to stop Basel III phase-in

Federal banking regulators have finalized the extension of certain capital requirements, following an August plan to freeze the phasing in of Basel III capital rules and a September proposal regarding the treatment of mortgage servicing assets.

This rule takes effect Jan. 1, 2018, and applies to banks not subject to the "advanced approaches" capital rules.

The Federal Reserve, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency said "a broader simplification" of the rules is still underway.

FDIC Vice Chairman Thomas Hoenig said the move should provide some temporary relief from regulatory burden and encouraged other regulators "to consider a meaningful simplification of the capital rules for all banks with a commercial banking model."