Fed says banks won't be expected to adopt Basel III early

11/7/2011 | Global Financial Strategy

The Federal Reserve is drafting final Basel 2.5 and Basel III rules. Daniel Tarullo, a member of the central bank's board of governors, said U.S. financial institutions are unlikely to be required to adopt the rules early. "While the Federal Reserve intends to ensure that firms are on a steady path to full Basel III compliance, we do not intend to require firms to raise external capital or reduce their risk-weighted assets in order to meet any target earlier than at the time specified in the Basel III transition schedule," Mr. Tarullo said.

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