U.S. bank regulators appear to be advancing toward a new iteration of the so-called "Basel endgame" capital standards for large banks, according to filings made public this week.
The Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency both transmitted proposed rule documents on Thursday to the Office of Management and Budget for its review, the filings show on the Office of Information and Regulatory Affairs website. OIRA is the division of OMB charged with evaluating proposed federal rules.
The documents reference rules titled "Regulatory Capital and Standardized Approach for Risk-weighted Assets," but they do not disclose any technical specifications, substantive details or a timetable for when the agencies will formally publish a proposal. The filings therefore indicate only that the agencies have moved material into the interagency review process, not the content of any final or draft rule.
No submission from the Federal Reserve was listed on the OIRA site. The Fed shares statutory responsibility for developing rules related to Basel standards for large banks.
Spokespeople for the FDIC, the OCC and the Federal Reserve either did not respond to requests for comment or declined to comment, according to the filings and public records.
The proposal effort has drawn scrutiny in banking circles because an earlier attempt under the previous administration would have materially increased capital requirements for large banks - a plan that met intense opposition from the industry. The new submissions do not state whether the agencies intend to adopt that prior approach or to pursue a different calibration.
Federal Reserve Vice Chair for Supervision Michelle Bowman has previously said the agencies are aiming to put forward a new set of rules by early 2026. The recent OMB filings are consistent with that timeline, but they do not provide explicit confirmation of target dates or next steps.
Key points
- FDIC and OCC sent rule documents to OMB's OIRA for review, referencing "Regulatory Capital and Standardized Approach for Risk-weighted Assets."
- No technical details or schedule were included in the filings, and the Federal Reserve had no posted submission.
- Fed Vice Chair for Supervision Michelle Bowman has said agencies are working toward a proposal by early 2026.
Risks and uncertainties
- The filings contain no details on calibration or timing, leaving uncertainty about how and when capital requirements might change - relevant to the banking sector and credit markets.
- With no Federal Reserve submission posted and agencies declining to comment, coordination among regulators and the final shape of any proposal remain uncertain - affecting large banks and regulatory compliance functions.