Fed gives largest U.S. banks extra year for debt rule calculation

By Dan Freed

NEW YORK (Reuters) - The Federal Reserve said on Wednesday that bigger U.S. banks would have an extra year to calculate a capital requirement known as the supplementary leverage ratio.

Institutions subjected to the leverage ratio requirement will have to show regulators what the ratio would be in a stressed scenario beginning in 2017.

The extension applies to banks with more than $50 billion of assets, of which there were 39 at the end of the third quarter, according to data from the Federal Deposit Insurance Corp.

(Story corrects first paragraph to say banks have extra year to calculate ratio, not comply with it, as previously stated)

(Reporting by Dan Freed in New York.; Editing by Dan Wilchins and Chizu Nomiyama)