Basel III Final Rule

Financial Institutions

July 30, 2013
by Brett Schwantes, CPA, Lee Christensen, CPA

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Brett Schwantes Brett Schwantes, CPA
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Lee Christensen Lee Christensen, CPA
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The Federal Reserve Board approved the final Basel III rules on July 2, 2013, and the Federal Deposit Insurance Corporation (FDIC) and Office of the Comptroller of the Currency (OCC) approved these rules on July 9, 2013. Although the final rule offers some relief to community banks (generally less than $15 billion in total assets) from the original proposal by exempting them from some of the requirements, significant changes to regulatory capital requirements will apply to community banks beginning January 1, 2015. Small bank holding companies with less than $500 million in assets will continue to be exempt from the regulatory capital requirements, but their depository institution(s) must comply with the new rules.


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