Feds give banks more time to comment on proposed higher capital requirements

The Federal Reserve, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency said Friday they’ll extend the comment period on proposed higher capital requirements for banks until Jan. 16. The earlier deadline for the roughly 1,100-page proposal was Nov. 30.

“The agencies extended the comment period to allow interested parties more time to analyze the issues and prepare their comments,” according to a statement. The Federal Reserve Board also extended the comment period until the same date for its proposal to modify the capital surcharge for the largest and most complex banks. Banks have complained that the capital requirements intended to strengthen the financial system will hamper economic growth.

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