WASHINGTON — While much of the industry's attention is centered on congressional efforts to revamp financial services, a proposal from the Basel Committee on Banking Supervision also could significantly rewrite the rules of banking.

The Basel Committee is accepting comment through April 16 on a proposal that would, among other things, restrict an institution's ability to pay dividends, force it to raise more common equity and broaden the leverage ratio to include off-balance-sheet assets. If finalized, the changes would be tacked on to Basel II, the complicated capital framework that caused bankers so many headaches before the financial crisis.

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