Large Financial Institution Rating System; Regulations K and LL, 47164 [2017-21860]

Agencies

• FEDERAL RESERVE SYSTEM

[Federal Register Volume 82, Number 195 (Wednesday, October 11, 2017)]
[Proposed Rules]
[Page 47164]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-21860]


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Proposed Rules
                                                Federal Register
________________________________________________________________________

This section of the FEDERAL REGISTER contains notices to the public of 
the proposed issuance of rules and regulations. The purpose of these 
notices is to give interested persons an opportunity to participate in 
the rule making prior to the adoption of the final rules.

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Federal Register / Vol. 82, No. 195 / Wednesday, October 11, 2017 / 
Proposed Rules

[[Page 47164]]



FEDERAL RESERVE SYSTEM

12 CFR Parts 211 and 238

[Docket No. R-1569]
RIN 7100-AE82


Large Financial Institution Rating System; Regulations K and LL

AGENCY: Board of Governors of the Federal Reserve System (Board).

ACTION: Notice of proposed rulemaking; extension of comment period.

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SUMMARY: On August 17, 2017, the Board published in the Federal 
Register a proposed new rating system for its supervision of large 
financial institutions. To facilitate effective public comment, the 
Board has determined that an extension of the public comment period 
until November 30, 2017, is appropriate. This action will allow 
interested persons additional time to analyze the proposal and prepare 
their comments.

DATES: The comment period for the notice of proposed rulemaking 
published on August 17, 2017 (82 FR 39049), is extended. Comments on 
the proposal must be received on or before November 30, 2017.

ADDRESSES: Interested parties are invited to submit written comments by 
following the instructions for submitting comments at https://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm.
     Federal eRulemaking Portal: https://www.regulations.gov. 
Follow the instructions for submitting comments.
     Email: regs.comments@federalreserve.gov. Include the 
docket number in the subject line of the message.
     Fax: (202) 452-3819 or (202) 452-3102.
     Mail: Address to Ann E. Misback, Secretary, Board of 
Governors of the Federal Reserve System, 20th Street and Constitution 
Avenue NW., Washington, DC 20551.
    All public comments will be made available on the Board's Web site 
at https://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm as 
submitted, unless modified for technical reasons. Accordingly, comments 
will not be edited to remove any identifying or contact information. 
Public comments may also be viewed electronically or in paper in Room 
3515, 1801 K Street NW. (between 18th and 19th Street NW.), Washington, 
DC 20006 between 9:00 a.m. and 5:00 p.m. on weekdays.

FOR FURTHER INFORMATION CONTACT: Richard Naylor, Associate Director, 
(202) 728-5854, Vaishali Sack, Manager, (202) 452-5221, April Snyder, 
Manager, (202) 452-3099, Bill Charwat, Senior Project Manager, (202) 
452-3006, Division of Supervision and Regulation, Scott Tkacz, Senior 
Counsel, (202) 452-2744, or Christopher Callanan, Senior Attorney, 
(202) 452-3594, Legal Division, Board of Governors of the Federal 
Reserve System, 20th and C Streets NW., Washington, DC 20551. For the 
hearing impaired only, Telecommunications Device for the Deaf (TDD) 
users may contact (202) 263-4869.

SUPPLEMENTARY INFORMATION: On August 17, 2017, the Board published in 
the Federal Register a proposed new rating system for its supervision 
of large financial institutions. The proposed ``Large Financial 
Institution Rating System'' is closely aligned with the Federal 
Reserve's new supervisory program for large financial institutions. The 
proposed rating system would apply to all bank holding companies with 
total consolidated assets of $50 billion or more; all non-insurance, 
non-commercial savings and loan holding companies with total 
consolidated assets of $50 billion or more; and U.S. intermediate 
holding companies of foreign banking organizations established pursuant 
to the Federal Reserve's Regulation YY. The proposed rating system 
includes a new rating scale under which component ratings would be 
assigned for capital planning and positions, liquidity risk management 
and positions, and governance and controls; however, a standalone 
composite rating would not be assigned. The Federal Reserve proposes to 
assign initial ratings under the new rating system during 2018. The 
Federal Reserve is also seeking comment on proposed revisions to 
existing provisions in Regulations K and LL so they would remain 
consistent with certain features of the proposed rating system.
    In recognition of the range of issues addressed and the variety of 
considerations involved with implementing the proposal, the Board 
requested that commenters respond to a number of questions. The 
proposal stated that the public comment period would close on October 
16, 2017.\1\
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    The Board believes that the additional period for comment will 
facilitate public comment on the provisions of the proposal and the 
questions posed by the Board. Therefore, the Board is extending the end 
of the comment period for the proposal from October 16, 2017, to 
November 30, 2017.

    By order of the Board of Governors of the Federal Reserve 
System, acting through the Secretary of the Board under delegated 
authority, October 5, 2017.
Ann E. Misback,
Secretary of the Board.
[FR Doc. 2017-21860 Filed 10-10-17; 8:45 am]
BILLING CODE P