Today, the eve of the fifth anniversary of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Federal Reserve Board approved a final rule (“Final Rule”) establishing an additional risk-based capital surcharge for the eight US global systemically important banks (“G-SIBs”). The Final Rule largely adopts the proposed rule issued in December 2014, and retains its super-equivalence to the framework agreed to by the Basel Committee. This note includes key highlights of the Final Rule and notable changes from the proposed rule. A more detailed client note will follow.