U.S. banking regulators do not expect proposed rules requiring financial institutions to hold more capital to take effect on Jan. 1, as regulators work through a flood of industry comments on the proposals. Regulators have received more than 2,000 comment letters since the rules were proposed in June to implement the international agreement on bank capital known as Basel III. The agreement is considered one of the most critical reform efforts to make sure the global banking system is more resilient in the aftermath of the 2007-2009 financial crisis. "We have received a large number of comments and want to closely consider each issue," Federal Reserve Board Governor Elizabeth Duke told a group of community bankers on Friday. The Fed, the Federal Deposit Insurance Corp and the Office of the Comptroller of the Currency said in a statement on Friday that tougher capital requirements would be delayed beyond Jan. 1. They did not indicate when they plan to finalize
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