Today the Federal Reserve issued its final rule on total loss-absorbing capacity, long-term debt and clean holding company requirements for U.S. G-SIBs and U.S. IHCs of foreign G-SIBs.  The Federal Reserve deferred finalizing any regulatory capital deductions for investments in certain unsecured debt of U.S. G-SIBs, stating that it intends to address any such requirements jointly with the OCC and FDIC. The staff memo on the final rule is available here, and statements from Chair Yellen and Governor Tarullo are available here and here respectively.

Look for a Davis Polk visual memo on the rule in the coming days.