In the United States, the Federal Reserve, FDIC, and Office of the Comptroller of the Currency (collectively, the banking agencies) are working to update and enhance risk-based capital standards, and introduce liquidity standards through a series of rulemakings. These rulemakings will be used to align U.S. capital and liquidity regulations with Basel III.
In accordance with the internationally agreed-upon implementation timeframes, the banking agencies plan to issue a notice of proposed rulemaking in 2011 and a final rule in 2012 that would implement the Basel III reforms. We expect that other jurisdictions will be adopting regulations or, where necessary, legislation in a similar timeframe.