This week, the Federal Reserve Board issued two interim final rules that clarify how companies "should incorporate the Basel III regulatory capital reforms into their capital and business projections during the next cycle of capital plan submissions and stress tests." The first interim final rule clarifies that bank holding companies with $50 billion or more in total consolidated assets "must incorporate the revised capital framework into their capital planning projections and into the stress tests" required under the Dodd-Frank Act. The second interim final rule provides "a one-year transition period for most banking organizations with between $10 billion and $50 billion in total consolidated assets." These interim final rules are effective immediately. For more, read the full press release.