The Board of Governors of the Federal Reserve System (FRB), Federal Deposit Insurance Corporation (FDIC), and Office of the Comptroller of the Currency (OCC) jointly released the long-awaited proposal to strengthen capital requirements for covered banks. The proposal is commonly referred to as the “Basel III Endgame” in the US and a summary of the proposal can be found here: Basel III’s Endgame: US Regulators Release Final Rule.

Since the proposal was released, individual banks and industry associations have been primarily focused on preparing comments on the proposal, which is due January 16, 2024, along with the FRB’s special impact data template. This whitepaper summarizes the industry’s primary concerns with the proposal, key implications for US banks, and recommended actions that banks should take while awaiting the final rule.

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