However, the process will begin only as soon as regulators outline "phase-in" periods for new capital standards.
Banks must maintain at least an 8% ratio of top-quality capital to risk-weighted assets under new capital standards outlined by the international Basel Committee on Banking Supervision. For Bank of America, this Tier 1 common ratio stood at 8.45% as of Sept. 30.During a conference call on Tuesday, Moynihan indicated that Bank of America "should run on 8.5 to 9%" without a problem as Basel and other U.S. regulations are implemented. But Ed Najarian, an analyst with ISI Group, questioned management's assumptions - saying it didn't seem as though a dividend was factored in before 2013. "I wouldn't assume that," said Moynihan. "We didn't mean to create that impression...Embedded in here is a reasonable dividend policy." Moynihan said management is simply waiting to get a clear policy from regulators regarding the timing of various new rules. In addition to the new Basel Accord - which clearly spells out requirements and timing - U.S. regulators are also figuring out how and when to implement "market risk" capital requirements as well as other parts of the Dodd-Frank financial reform bill. "The regulators have been clear that they understand from you as investors that there has to be a sharing of this
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