Federal regulators on Tuesday said the new accounting standard for derivatives will not immediately affect the amount of regulatory capital a bank or thrift must hold.

The Financial Accounting Standards Board decided last summer to require banks and thrifts to record derivatives at fair market value on their balance sheets by June 15.

The interim guidance from the Office of the Comptroller of the Currency, the Federal Reserve Board, the Federal Deposit Insurance Corp., and the Office of Thrift Supervision covers banks and thrifts that adopt the rules early.

The agencies said they plan to study the effects of the new rules to determine if regulatory capital needs to be adjusted at a later date.

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