``Large firms have said Basel III goes too far in forcing them to hold extra capital. Community banks, which initially hoped to avoid the brunt of the rules, have said extra compliance costs could hurt their ability to lend to small businesses and stifle the U.S. economic recovery.

The American Bankers Association, Securities Industry and Financial Markets Association and Financial Services Roundtable said in a formal comment letter on Monday that banks should have at least a year after the U.S. capital rules are finalized before they have to comply. Community banks and other small institutions should get even more time to adjust.''

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