In more than 700 letters to the banking regulators, both large and small banks protested a June proposal that would implement the Basel III accord by forcing financial institutions to hold more and higher-quality capital.

While smaller institutions continue to push for an exemption from some of its requirements, the largest institutions are seeking a litany of other changes. Those include easing up on new risk-based capital requirements for residential mortgages; keeping a filter that would affect how much capital banks must hold against certain instruments; narrowing a definition of "financial institution"; and removing duplicative requirements that force certain banks to comply with up to 11 different ratios, including two leverage ratios.

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