This included the introduction of common equity tier 1 (CET1) as a measure of the highest quality form of regulatory capital, and the capital conservation buffer. Today, large U.S. banks are also subject to additional capital requirements, based on the tiering framework.
For all banks with over $ billion in assets, the requirements include the stress capital buffer and a number of additional GSIB and large firm-specific requirements. The U.S. capital requirements are described as “gold plating” the standards set in the Basel III reforms. This is today’s starting point, and it is strong.