On September 9, the FDIC, OCC, and Federal Reserve Board reaffirmed their commitment to implementing enhanced regulatory capital requirements that align with Basel III standards issued by the Basel Committee on Banking Supervision in 2017. The agencies announced they are currently developing—and will issue “as soon as possible”—a joint proposed rule on new capital standards for large banking organizations. The agencies noted that community banks are subject to different capital requirements and will not be affected by the proposal.