Page 18 - CCFA Journal - 12th Issue

Regulations 金融监管 加中金融

US Basel III Final Reforms: Reinventing Capital Requirements for Banks

美国巴塞尔协议最终改革

Wallace Law, Director at Royal Bank of Canada

In a significant development for the U.S. banking sector, the Office of the Comptroller of the
Currency (OCC), the Board of Governors of the Federal Reserve System (FRB), and the Federal
Deposit Insurance Corporation (FDIC) have jointly issued a notice of proposed rulemaking (NPR).
This NPR, released on July 27, 2023, marks a substantial revision of the capital requirements
applicable to large banking organizations and those engaged in significant trading activity.

美国货币监理署 (OCC)、联邦储备系统理事会 (FRB) 和联邦存款保险公司 (FDIC) 于 2023 年 7 月 27 日联合发布了新的美国银
行业的规则（NPR）（征求意见稿），即美国版的 FRTB 新资本协议 （或美国版巴塞尔协议 III）。 该 规则适用于大型银行
组织和从事重大交易活动的机构。

Building on Past Reforms

This proposal represents an evolutionary step in the regulatory capital framework, rooted in the lessons learned from the 2007-09
financial crisis. In the aftermath of that crisis, the regulatory agencies initiated a series of reforms aimed at strengthening the
effectiveness of the regulatory capital framework.

One of the pivotal moments in this journey occurred in 2013 when the agencies finalized a rule that significantly elevated the
quantity and quality of regulatory capital that banking organizations were mandated to maintain. These changes closely aligned
with the initial reforms proposed by the Basel Committee on Banking Supervision (Basel Committee) in response to the global
financial crisis. Moreover, the regulatory framework expanded to encompass capital planning, stress testing, and an additional
buffer requirement for U.S. global systemically important banking organizations (GSIBs), all in accordance with the Dodd-Frank
Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act).

该提案代表了 2007-09 年金融危机的经验教训以后监管资本框架的演变。，基于金融危机的经验教训，监管机构启动了一
系列改革，旨在加强监管资本框架的有效性。

这一历程中的关键时刻之一发生在 2013 年，当时各机构最终确定了一项规则，显着提高了银行组织必须维持的监管资本
的充足和高的质量。 这些变化与巴塞尔银行监管委员会（巴塞尔委员会）为应对全球金融危机而提出的初步改革紧密结
合。 此外，监管框架还扩展到涵盖资本规划、压力测试以及对美国全球系统重要性银行组织 (GSIB) 的额外缓冲要求，所
有这些都符合 2010 年《多德-弗兰克华尔街改革和消费者保护法案》(Dodd-Frank Wall Street Reform and Consumer
Protection Act of 2010）。

The US Basel III Final Reforms: A Transformative Shift

The release of the US Basel III Final Reforms introduces sweeping changes that touch upon every aspect of the existing regulatory
capital framework. These reforms comprise two distinct NPRs: the Basel III proposal and the G-SIB surcharge proposal, targeting
all banks above the $100 billion asset threshold, including bank holding companies (BHCs) and Intermediate Holding Companies
(IHCs) of Foreign Banking Organizations (FBOs).

The overarching objective of these reforms is to bolster the "strength and resiliency" of the U.S. banking system. A remarkable
departure from previous regulatory practices is the application of a consistent set of requirements to all large banking
organizations, signaling a shift away from tailoring. This shift is underpinned by the regulators' goal of enhancing transparency and
promoting uniformity in capital frameworks across the banking industry.

美国巴塞尔协议 III 最终改革方案涉及现有监管资本框架的各个方面。 这些改革包括两项不同的 NPR：巴塞尔协议 III 提案
和 G-SIB 附加费提案，针对资产超过 1000 亿美元门槛的所有银行，包括银行控股公司（BHC）和外国银行组织（FBO）的
中间控股公司（IHC） 。

这些改革的首要目标是增强美国银行体系的“实力和弹性”。 与以往个性化的监管显著不同的是，对所有大型银行组织应
用了一套一致的要求。 这一转变的目标是监管机构提高透明度和促进整个银行业资本框架统一的目标。

CCFA JOURNAL OF FINANCE November 2023
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