The FDIC Board of Directors approved an interagency proposed rulemaking to implement certain provisions of the Collins Amendment, Section 171, of Dodd-Frank. Section 171 provides that the capital requirements generally applicable to insured banks shall serve as a floor for other capital requirements the agencies establish. The advanced approaches of Basel II were inconsistent with Section 171 because they allow for reductions in riskbased capital requirements below those required by that Section. The proposed rule replaces the transitional floors in the advanced approaches rule with permanent risk-based capital floors equal to the capital requirements computed using the agencies’ general risk-based capital rules. The proposal also modifies the agencies’ general capital requirements to provide the Federal Reserve Board with additional flexibility to craft capital requirements for nonbanks it supervises as a result of determinations by the Financial Stability Oversight Council. Other provisions of the Collins amendment will be addressed in subsequent rulemakings. Comments are due 60 days from publication in the Federal Register.