Key takeaways 

• The joint final rule largely replaces the current market risk capital rules applicable to certain of the largest U.S. banking institutions.
• The rule implements Basel II.5 enhancements to the international market risk framework in a manner consistent with requirements under the Dodd-Frank Act.
• Collectively, the changes under the new market risk rules and those proposed under the concurrently released joint notices of proposed rulemaking that would reset the current U.S. credit risk capital framework, will materially increase bank capital requirements for affected institutions.