WASHINGTON — The Federal Reserve is extending its deadline for public comments on a proposal to require Global Systemically Important Banks to hold additional capital from March 2 to April 3.

The Fed said the extension was "due to the range and complexity of the issues addressed in the proposed rulemaking" and would give "interested parties additional time to analyze the proposal and prepare their comments."

The Clearing House, which represents many of the G-SIBs that would be subject to the rule, had sent the Fed a letter seeking the extension on Feb. 20.

The so-called G-SIB surcharge rule was proposed in December and would effectively mirror a surcharge proposal put forth by the international Financial Stability Board, of which the Fed is an influential member. The FSB proposal requires G-SIBs to hold between 1% -2.5% additional capital above their minimum risk-weighted capital requirements depending on their size and complexity.

The Fed proposal differs from the FSB proposal, however, in that it tacks on an additional charge based on the bank's reliance on short-term wholesale funding to facilitate its banking activities. Under the Fed proposal, banks would have to hold an additional 1.8% more capital on average to meet the standard.

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