In the aftermath of the global financial crisis of 2007-2009 and following the collapse of several major financial institutions around the world, there have been proposals for a major reform of the regulatory framework applicable to financial institutions in order to reduce the risks of financial instability. These reform efforts have proceeded at both the international level, under the auspices of the Basel Committee on Banking Supervision (Basel Committee), and also at a national level, for example through the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act or DFA) in the US. Over the last several years, there have been many proposed changes in the regulation of banks including increased capital requirements, new liquidity standards, and restrictions on the trading activities of banks. This report focuses on the potential impact of the Basel III capital and liquidity regulations proposed in December 2010.