The Office of Thrift Supervision joined in the NPR and, when the rules are finalized, will be implementing a market-risk capital rule for the first time. The comment period on the market-risk NPR recently ended, and the agencies are reviewing the comments received in preparation for interagency discussions on the final rule. The current marketrisk rule uses a principles-based approach to market-risk capital regulation.
In crafting the market-risk NPR, the agencies strived to continue the existing principles-based approach by avoiding highly prescriptive rule proposals. Some comments received to date indicate that in certain areas we could be even less prescriptive and in other areas the comments ask for more clarity or specifics.