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SunTrust, Huntington, First Horizon and TCF would suffer the biggest drops in Tier 1 common equity under proposed guidelines, unless they change their mix of assets.
July 24 -
The Fed on Thursday issued proposals that would raise banks' minimum capital requirement to 7%.
June 7
The chairman of the House Financial Services Committee is urging federal banking regulators to extend the comment deadline on Basel III capital reforms for another 90 days to give bankers more time to digest the rules and better assess their impact.
"As you know, this rule is extremely complex, so additional time for commenting is certainly justified," Rep. Spencer Bachus, an Alabama Republican, wrote in a
The Fed, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency jointly issued three
Rep. Bachus' request came a day after Frank Keating, the president and chief executive of the American Bankers Association, wrote in an Investor's Business Daily
Keating also said that the rules are too broad and urged regulators to revise them in such a way "that recognizes and accommodates the differences between small banks, large banks and many in between."
The ABA is also asking its members to write to regulators urging them to extend the comment deadline. The trade group said that the letters should be in bankers' own words because regulators tend to "dismiss form letters."