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Regulatory News

We implement congressional laws on a wide range of banking and financial activities, in part through regulations. When modifications to these regulations are proposed to meet the current needs of the financial community, the public is invited to provide input via the comment letter process.

Feb. 3, 2021

A final rule, published February 3, 2021 in the Federal Register, tailors the requirements in the Board of Governors capital plan rule based on risk.  To be consistent with recent changes to the Board of Governors stress testing rules, the final rule makes other changes to the stress testing rules, Stress Testing Policy Statement, and regulatory requirements.   In a change from the proposed rule, the final rule also applies the capital planning and stress capital buffer requirements to covered savings and loan holding companies subject to Category II, Category III, and Category IV standards.  The final rule is effective April 5, 2021.

Nov. 12, 2020

The Federal Reserve Board is seeking feedback on a proposed framework for Community Reinvestment Act (CRA) modernization. The Advanced Notice of Proposed Rulemaking (ANPR) was published in the Federal Register on October 19, 2020, with a 120-day comment period. Comments are due on February 16, 2021.

Please provide your feedback on the Comment Page of the Federal Reserve Board website or via the following:

Email: regs.comments@federalreserve.gov (Include docket (R-1723) and RIN numbers (7100-AF94) in the subject line of the message.)

FAX: (202) 452-3819 or (202) 452-3102

Mail: Ann E. Misback, Secretary, Board of Governors of the Federal Reserve System, 20th Street and Constitution Avenue NW, Washington, DC 20551

For more information, view:
Board Memorandum
Fact Sheet
Meeting and Board Member Statements

Nov. 10, 2020

A notice of proposed rulemaking and request for comment, published October 7, 2020 (corrections published November 10, 2020) in the Federal Register, would update the Board's capital planning requirements to be consistent with other Board rules that were modified in 2019. The proposal updates the Board's capital planning requirements to reflect that new framework. In particular, firms in the lowest risk category are on a two-year stress test cycle and not subject to company-run stress test requirements.  The proposal reflects these changes. The proposal also seeks comment on the Board's existing capital planning guidance applicable to all firms.  The deadline for public comment is November 20, 2020.

View amendments published October 7, 2020 in the Federal Register.

View corrections published November 10, 2020 in the Federal Register.

Nov. 5, 2020

A proposed rule, published November 5, 2020 in the Federal Register, would codify the Interagency Statement Clarifying the Role of Supervisory Guidance issued September 11, 2018.  This proposed rule clarifies that supervisory guidance does not have the force and effect of law but outlines supervisory expectations and priorities.  Agencies do not take enforcement actions or issue supervisory criticisms based on non-compliance with supervisory guidance.  This proposed rule would make the 2018 Interagency Statement binding on the banking regulatory agencies.  The deadline for public comment is January 4, 2021.

Oct. 28, 2020

A final rule, published October 28, 2020 in the Federal Register, adopts as final the revisions made to the regulatory capital rule and the liquidity coverage ratio rule made under three interim final rules, published in the Federal Register March 23, April 13, and May 6, 2020.  The interim final rules are adopted without change.  The final rule neutralizes the regulatory capital and liquidity coverage ratio effects of participating in the Money Market Mutual Fund Liquidity Facility and Paycheck Protection Program Liquidity Facility because there is no credit or market risk in association with exposures pledged to these facilities. As a result, the final rule will support the flow of credit to households and businesses affected by the coronavirus. The final rule is effective December 28, 2020.

Oct. 16, 2020

A final rule, published October 16, 2020 in the Federal Register temporarily defers appraisal and evaluation requirements for up to 120 days after the closing of certain residential and commercial real estate transactions (excluding  transactions for acquisition, development, and construction of real estate). The final rule adopts the interim final rule with one revision that adds a definition for the “acquisition, development, and construction” of real estate. The final rule is effective October 16, 2020.

Oct. 15, 2020

A notice of proposed rulemaking and request for comment, published October 15, 2020 in the Federal Register, would amend with technical updates and clarification the Federal Open Market Committee’s  Rules Regarding Availability of Information, which describe its Freedom of Information Act procedures.  The proposal would implement non-substantive updates to the FOMC’s FOIA procedures to make them consistent with the FOMC's current practices and to incorporate recent changes in law and guidance. The deadline for public comment is December 14, 2020.

Sept. 30, 2020

A final rule, published September 30, 2020 in the Federal Register, delays the estimated impact on regulatory capital stemming from the implementation of Accounting Standards Update No. 2016-13, Financial Instruments—Credit Losses, Topic 326, Measurement of Credit Losses on Financial Instruments (CECL). This final rule clarifies and revises the interim final rule, published in the Federal Register on March 31, 2020. The final rule provides banking organizations that implement CECL during the 2020 calendar year the option to delay for two years an estimate of CECL’s effect on regulatory capital, relative to the incurred loss methodology’s effect on regulatory capital, followed by a three-year transition period.  This final rule is effective September 30, 2020.

Aug. 26, 2020

Two final rules, announced August 26, 2020 by the Federal Reserve Board of Governors, adopt without change two interim final rules, published in the Federal Register on April 23, 2020, to provide temporary relief to community banking organizations by making temporary changes to the community bank leverage framework pursuant to Section 4012 of the Coronavirus Aid, Relief, and Economic Security Act. Under these final rules, the community bank leverage ratio will remain 8 percent through calendar year 2020, will be 8.5 percent through calendar year 2021, and will be 9 percent thereafter.  The final rule also maintains a two-quarter grace period for a qualifying community banking organization whose leverage ratio falls no more than 1 percentage point below the applicable community bank leverage ratio requirement.  The final rule is effective October 1, 2020.

Aug. 26, 2020

Two final rules, announced August 26, 2020, by the Federal Reserve Board of Governors, adopt without change the revisions to the definition of eligible retained income made under the Regulatory Capital interim final rule and Total Loss-Absorbing Capacity interim final rule, published in the Federal Register on March 20, 2020 and March 26, 2020, respectively.  These final rules revise the definition of eligible retained income for all depository institutions, bank holding companies, and savings and loan holding companies subject to the federal bank regulatory agencies’ capital rules.  The revised definition will ensure automatic limitations on capital distributions phase in gradually. This final rule is effective January 1, 2021.

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