Federal Reserve System – Federal Register Recent Federal Regulation Documents

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Regulatory Capital Treatment for High Volatility Commercial Real Estate (HVCRE) Exposures
Document Number: 2019-26544
Type: Rule
Date: 2019-12-13
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Department of Treasury, Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (collectively, the agencies) are adopting a final rule to revise the definition of ``high volatility commercial real estate (HVCRE) exposure'' in the regulatory capital rule. This final rule conforms this definition to the statutory definition of ``high volatility commercial real estate acquisition, development, or construction (HVCRE ADC) loan,'' in accordance with section 214 of the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA). The final rule also clarifies the capital treatment for loans that finance the development of land under the revised HVCRE exposure definition.
Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company
Document Number: 2019-26726
Type: Notice
Date: 2019-12-12
Agency: Federal Reserve System, Agencies and Commissions
Regulatory Capital Rules: Risk-Based Capital Requirements for Depository Institution Holding Companies Significantly Engaged in Insurance Activities; Extension of Comment Period
Document Number: 2019-26475
Type: Proposed Rule
Date: 2019-12-10
Agency: Federal Reserve System, Agencies and Commissions
On October 24, 2019, the Board of Governors of the Federal Reserve System (Board), published in the Federal Register a proposal to establish risk-based capital requirements for depository institution holding companies that are significantly engaged in insurance activities. The Board has determined that an extension of the comment period until January 22, 2020, is appropriate.
Formations of, Acquisitions by, and Mergers of Bank Holding Companies
Document Number: 2019-26474
Type: Notice
Date: 2019-12-09
Agency: Federal Reserve System, Agencies and Commissions
Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company
Document Number: 2019-26382
Type: Notice
Date: 2019-12-06
Agency: Federal Reserve System, Agencies and Commissions
Federal Reserve Bank Services
Document Number: 2019-26228
Type: Notice
Date: 2019-12-04
Agency: Federal Reserve System, Agencies and Commissions
The Board of Governors of the Federal Reserve System (Board) has approved the private sector adjustment factor (PSAF) for 2020 of $18.9 million and the 2020 fee schedules for Federal Reserve priced services and electronic access. These actions were taken in accordance with the Monetary Control Act of 1980, which requires that, over the long run, fees for Federal Reserve priced services be established on the basis of all direct and indirect costs, including the PSAF.
Notice of Proposals To Engage in or To Acquire Companies Engaged in Permissible Nonbanking Activities
Document Number: 2019-26218
Type: Notice
Date: 2019-12-04
Agency: Federal Reserve System, Agencies and Commissions
Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company
Document Number: 2019-26217
Type: Notice
Date: 2019-12-04
Agency: Federal Reserve System, Agencies and Commissions
Formations of, Acquisitions by, and Mergers of Bank Holding Companies
Document Number: 2019-26124
Type: Notice
Date: 2019-12-03
Agency: Federal Reserve System, Agencies and Commissions
Formations of, Acquisitions by, and Mergers of Bank Holding Companies
Document Number: 2019-25900
Type: Notice
Date: 2019-11-29
Agency: Federal Reserve System, Agencies and Commissions
Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB
Document Number: 2019-25842
Type: Notice
Date: 2019-11-29
Agency: Federal Reserve System, Agencies and Commissions
The Board of Governors of the Federal Reserve System (Board) is adopting a proposal to extend for three years, with revision, the Report of Selected Balance Sheet Items for Discount Window Borrowers (FR 2046; OMB No. 7100-0289). The revisions are applicable immediately.
Formations of, Acquisitions by, and Mergers of Savings and Loan Holding Companies
Document Number: 2019-25825
Type: Notice
Date: 2019-11-29
Agency: Federal Reserve System, Agencies and Commissions
Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB
Document Number: 2019-25822
Type: Notice
Date: 2019-11-29
Agency: Federal Reserve System, Agencies and Commissions
The Board of Governors of the Federal Reserve System (Board) is adopting a proposal to extend for three years, with revision, the Interchange Transaction Fees Survey. The revisions are applicable as of the collection of calendar year 2019.
Notice of Proposals To Engage in or To Acquire Companies Engaged in Permissible Nonbanking Activities
Document Number: 2019-25817
Type: Notice
Date: 2019-11-29
Agency: Federal Reserve System, Agencies and Commissions
Notice of Proposals To Engage in or To Acquire Companies Engaged in Permissible Nonbanking Activities
Document Number: 2019-25704
Type: Notice
Date: 2019-11-27
Agency: Federal Reserve System, Agencies and Commissions
Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company
Document Number: 2019-25462
Type: Notice
Date: 2019-11-25
Agency: Federal Reserve System, Agencies and Commissions
Reserve Requirements of Depository Institutions
Document Number: 2019-25428
Type: Rule
Date: 2019-11-25
Agency: Federal Reserve System, Agencies and Commissions
The Board is amending Regulation D, Reserve Requirements of Depository Institutions, to reflect the annual indexing of the reserve requirement exemption amount and the low reserve tranche for 2020. The Regulation D amendments set the amount of total reservable liabilities of each depository institution that is subject to a zero percent reserve requirement in 2020 at $16.9 million (up from 16.3 million in 2019). This amount is known as the reserve requirement exemption amount. The Regulation D amendments also set the amount of net transaction accounts at each depository institution (over the reserve requirement exemption amount) that is subject to a three percent reserve requirement in 2020 at $127.5 million (up from $124.2 million in 2019). This amount is known as the low reserve tranche. The adjustments to both of these amounts are derived using statutory formulas specified in the Federal Reserve Act. The Board is also announcing changes in two other amounts, the nonexempt deposit cutoff level and the reduced reporting limit, that are used to determine the frequency at which depository institutions must submit deposit reports.
Formations of, Acquisitions by, and Mergers of Bank Holding Companies
Document Number: 2019-25344
Type: Notice
Date: 2019-11-22
Agency: Federal Reserve System, Agencies and Commissions
Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company
Document Number: 2019-25250
Type: Notice
Date: 2019-11-21
Agency: Federal Reserve System, Agencies and Commissions
Formations of, Acquisitions by, and Mergers of Bank Holding Companies
Document Number: 2019-25249
Type: Notice
Date: 2019-11-21
Agency: Federal Reserve System, Agencies and Commissions
Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company
Document Number: 2019-25143
Type: Notice
Date: 2019-11-20
Agency: Federal Reserve System, Agencies and Commissions
Formations of, Acquisitions by, and Mergers of Bank Holding Companies
Document Number: 2019-25141
Type: Notice
Date: 2019-11-20
Agency: Federal Reserve System, Agencies and Commissions
Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB
Document Number: 2019-24967
Type: Notice
Date: 2019-11-20
Agency: Federal Reserve System, Agencies and Commissions
The Board of Governors of the Federal Reserve System (Board) adopted a proposal to implement the Single-Counterparty Credit Limits reporting form (FR 2590; OMB No. 7100-NEW). The first data collection will occur as of the end of the first quarter of 2020 for respondents that are U.S. and foreign global systemically important bank holding companies (G-SIBs), and as of the end of the third quarter of 2020 for all other respondents.
Single-Counterparty Credit Limits for Bank Holding Companies and Foreign Banking Organizations
Document Number: 2019-24966
Type: Proposed Rule
Date: 2019-11-20
Agency: Federal Reserve System, Agencies and Commissions
The Board is proposing to amend the compliance dates for Single-Counterparty Credit Limits for Bank Holding Companies and Foreign Banking Organizations, which it finalized in a rule (final SCCL rule), published in the Federal Register on August 6, 2018. The Board is requesting comment on a proposed amendment that would modify these initial compliance dates to July 1, 2021, and January 1, 2022, respectively, regarding the single- counterparty credit limits applicable to a foreign banking organization's combined U.S. operations only. The Board is not proposing at this time any amendment that would modify the initial compliance dates in the final rule for, or otherwise amend the application of, single-counterparty credit limits applicable to any U.S. intermediate holding company of a foreign banking organization.
Supervision and Regulation Assessments of Fees for Bank Holding Companies and Savings and Loan Holding Companies With Total Consolidated Assets of $100 Billion or More
Document Number: 2019-24959
Type: Proposed Rule
Date: 2019-11-19
Agency: Federal Reserve System, Agencies and Commissions
The Federal Register document of November 12, 2019 proposing changes to the Board's Regulation TT provided an expired comment period end date. This document corrects that error.
Formations of, Acquisitions by, and Mergers of Bank Holding Companies
Document Number: 2019-25024
Type: Notice
Date: 2019-11-18
Agency: Federal Reserve System, Agencies and Commissions
Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company
Document Number: 2019-24969
Type: Notice
Date: 2019-11-18
Agency: Federal Reserve System, Agencies and Commissions
Formations of, Acquisitions by, and Mergers of Bank Holding Companies
Document Number: 2019-24736
Type: Notice
Date: 2019-11-15
Agency: Federal Reserve System, Agencies and Commissions
Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company
Document Number: 2019-24735
Type: Notice
Date: 2019-11-14
Agency: Federal Reserve System, Agencies and Commissions
Prohibitions and Restrictions on Proprietary Trading and Certain Interests in, and Relationships With, Hedge Funds and Private Equity Funds
Document Number: 2019-22695
Type: Rule
Date: 2019-11-14
Agency: Commodity Futures Trading Commission, Agencies and Commissions, Federal Deposit Insurance Corporation, Federal Reserve System, Securities and Exchange Commission, Department of Treasury, Office of the Comptroller of the Currency
The OCC, Board, FDIC, SEC, and CFTC are adopting amendments to the regulations implementing section 13 of the Bank Holding Company Act. Section 13 contains certain restrictions on the ability of a banking entity and nonbank financial company supervised by the Board to engage in proprietary trading and have certain interests in, or relationships with, a hedge fund or private equity fund. These final amendments are intended to provide banking entities with clarity about what activities are prohibited and to improve supervision and implementation of section 13.
Formations of, Acquisitions by, and Mergers of Bank Holding Companies
Document Number: 2019-24608
Type: Notice
Date: 2019-11-13
Agency: Federal Reserve System, Agencies and Commissions
Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company
Document Number: 2019-24607
Type: Notice
Date: 2019-11-13
Agency: Federal Reserve System, Agencies and Commissions
Regulatory Capital Rule: Capital Simplification for Qualifying Community Banking Organizations
Document Number: 2019-23472
Type: Rule
Date: 2019-11-13
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Department of Treasury, Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (collectively, the agencies) are adopting a final rule that provides for a simple measure of capital adequacy for certain community banking organizations, consistent with section 201 of the Economic Growth, Regulatory Relief, and Consumer Protection Act (final rule). Under the final rule, depository institutions and depository institution holding companies that have less than $10 billion in total consolidated assets and meet other qualifying criteria, including a leverage ratio (equal to tier 1 capital divided by average total consolidated assets) of greater than 9 percent, will be eligible to opt into the community bank leverage ratio framework (qualifying community banking organizations). Qualifying community banking organizations that elect to use the community bank leverage ratio framework and that maintain a leverage ratio of greater than 9 percent will be considered to have satisfied the generally applicable risk-based and leverage capital requirements in the agencies' capital rules (generally applicable rule) and, if applicable, will be considered to have met the well-capitalized ratio requirements for purposes of section 38 of the Federal Deposit Insurance Act. The final rule includes a two-quarter grace period during which a qualifying community banking organization that temporarily fails to meet any of the qualifying criteria, including the greater than 9 percent leverage ratio requirement, generally would still be deemed well-capitalized so long as the banking organization maintains a leverage ratio greater than 8 percent. At the end of the grace period, the banking organization must meet all qualifying criteria to remain in the community bank leverage ratio framework or otherwise must comply with and report under the generally applicable rule. Similarly, a banking organization that fails to maintain a leverage ratio greater than 8 percent would not be permitted to use the grace period and must comply with the capital rule's generally applicable requirements and file the appropriate regulatory reports.
Regulatory Capital Rule: Simplifications to the Capital Rule Pursuant to the Economic Growth and Regulatory Paperwork Reduction Act of 1996; Revised Effective Date
Document Number: 2019-23467
Type: Rule
Date: 2019-11-13
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Department of Treasury, Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (collectively, the agencies) are adopting a final rule that permits insured depository institutions and depository institution holding companies not subject to the advanced approaches capital rule to implement certain provisions of the final rule titled Regulatory Capital: Simplifications to the Capital Rule Pursuant to the Economic Growth and Regulatory Paperwork Reduction Act of 1996, which was issued by the agencies in July 22, 2019, (Capital Simplifications Final Rule) on January 1, 2020, rather than April 1, 2020, as initially provided. Consistent with this approach, the transitions provisions of the regulatory capital rule are being amended to provide that banking organizations not subject to the advanced approaches capital rule will be permitted to implement the Capital Simplifications Final Rule as of its revised effective date in the quarter beginning January 1, 2020, or to wait until the quarter beginning April 1, 2020.
Supervision and Regulation Assessments of Fees for Bank Holding Companies and Savings and Loan Holding Companies With Total Consolidated Assets of $100 Billion or More
Document Number: 2019-24491
Type: Proposed Rule
Date: 2019-11-12
Agency: Federal Reserve System, Agencies and Commissions
The Board of Governors of the Federal Reserve System (Board) is inviting comment on a proposal to amend the Board's assessment rule (Regulation TT), pursuant to Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act), to address amendments made by the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA). The proposed amendments to Regulation TT raise the minimum threshold for being considered an assessed company from $50 billion to $100 billion in total consolidated assets for bank holding companies and savings and loan holding companies and adjust the amount charged to assessed companies with total consolidated assets between $100 billion and $250 billion to reflect changes in supervisory and regulatory responsibilities resulting from EGRRCPA.
Formations of, Acquisitions by, and Mergers of Bank Holding Companies
Document Number: 2019-24337
Type: Notice
Date: 2019-11-07
Agency: Federal Reserve System, Agencies and Commissions
Regulation A: Extensions of Credit by Federal Reserve Banks
Document Number: 2019-24273
Type: Rule
Date: 2019-11-07
Agency: Federal Reserve System, Agencies and Commissions
The Board of Governors of the Federal Reserve System (``Board'') has adopted final amendments to its Regulation A to reflect the Board's approval of a decrease in the rate for primary credit at each Federal Reserve Bank. The secondary credit rate at each Reserve Bank automatically decreased by formula as a result of the Board's primary credit rate action.
Regulation D: Reserve Requirements of Depository Institutions
Document Number: 2019-24272
Type: Rule
Date: 2019-11-07
Agency: Federal Reserve System, Agencies and Commissions
The Board of Governors of the Federal Reserve System (``Board'') is amending Regulation D (Reserve Requirements of Depository Institutions) to revise the rate of interest paid on balances maintained to satisfy reserve balance requirements (``IORR'') and the rate of interest paid on excess balances (``IOER'') maintained at Federal Reserve Banks by or on behalf of eligible institutions. The final amendments specify that IORR is 1.55 percent and IOER is 1.55 percent, a 0.25 percentage point decrease from their prior levels. The amendments are intended to enhance the role of such rates of interest in moving the Federal funds rate into the target range established by the Federal Open Market Committee (``FOMC'' or ``Committee'').
Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company
Document Number: 2019-24241
Type: Notice
Date: 2019-11-07
Agency: Federal Reserve System, Agencies and Commissions
Margin and Capital Requirements for Covered Swap Entities
Document Number: 2019-23541
Type: Proposed Rule
Date: 2019-11-07
Agency: Farm Credit Administration, Agencies and Commissions, Federal Deposit Insurance Corporation, Federal Reserve System, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Federal Housing Finance Agency
The OCC, Board, FDIC, FCA, and FHFA (each, an agency, and collectively, the agencies) request comment on a proposed rule that would amend the agencies' regulations that require swap dealers and security-based swap dealers under the agencies' respective jurisdictions to exchange margin with their counterparties for swaps that are not centrally cleared (Swap Margin Rule). The Swap Margin Rule as adopted in 2015 takes effect under a phased compliance schedule spanning from 2016 through 2020, and the dealers covered by the rule continue to hold swaps in their portfolios that were entered into before the effective dates of the rule. Such swaps are grandfathered from the Swap Margin Rule's requirements until they expire according to their terms. The proposed rule would permit swaps entered into prior to an applicable compliance date (legacy swaps) to retain their legacy status in the event that they are amended to replace an interbank offered rate (IBOR) or other discontinued rate, repeal the inter- affiliate initial margin provisions, introduce an additional compliance date for initial margin requirements, clarify the point in time at which trading documentation must be in place, permit legacy swaps to retain their legacy status in the event that they are amended due to technical amendments, notional reductions, or portfolio compression exercises, and make technical changes to relocate the provision addressing amendments to legacy swaps that are made to comply with the Qualified Financial Contract Rules, as defined in the Supplementary Information section.
Formations of, Acquisitions by, and Mergers of Bank Holding Companies
Document Number: 2019-24130
Type: Notice
Date: 2019-11-05
Agency: Federal Reserve System, Agencies and Commissions
Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company
Document Number: 2019-24061
Type: Notice
Date: 2019-11-04
Agency: Federal Reserve System, Agencies and Commissions
Formations of, Acquisitions by, and Mergers of Bank Holding Companies
Document Number: 2019-24012
Type: Notice
Date: 2019-11-04
Agency: Federal Reserve System, Agencies and Commissions
Resolution Plans Required
Document Number: 2019-23967
Type: Rule
Date: 2019-11-01
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System
The Board and the Corporation (together, the agencies) are jointly adopting this final rule implementing the resolution planning requirements of section 165(d) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act). This final rule is intended to reflect improvements identified since the agencies finalized their joint resolution plan rule in November 2011 (2011 rule) and to address amendments to the Dodd-Frank Act made by the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA). Through this final rule, the Board is also establishing risk-based categories for determining the application of the resolution planning requirement to certain U.S. and foreign banking organizations, consistent with section 401 of EGRRCPA. The final rule also extends the default resolution plan filing cycle, allows for more focused resolution plan submissions, and improves certain aspects of the resolution planning rule.
Changes to Applicability Thresholds for Regulatory Capital and Liquidity Requirements
Document Number: 2019-23800
Type: Rule
Date: 2019-11-01
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Department of Treasury, Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System (Board), and the Federal Deposit Insurance Corporation (FDIC) (together, the agencies) are adopting a final rule to revise the criteria for determining the applicability of regulatory capital and liquidity requirements for large U.S. banking organizations and the U.S. intermediate holding companies of certain foreign banking organizations. The final rule establishes four risk-based categories for determining the applicability of requirements under the agencies' regulatory capital rule and liquidity coverage ratio (LCR) rule. Under the final rule, such requirements increase in stringency based on measures of size, cross-jurisdictional activity, weighted short-term wholesale funding, nonbank assets, and off-balance sheet exposure. The final rule applies tailored regulatory capital and liquidity requirements to depository institution holding companies and U.S. intermediate holding companies with $100 billion or more in total consolidated assets as well as to certain depository institutions. Separately, the Board is adopting a final rule that revises the criteria for determining the applicability of enhanced prudential standards for large domestic and foreign banking organizations using a risk-based category framework that is consistent with the framework described in this final rule, and makes additional modifications to the Board's company-run stress test and supervisory stress test rules. In addition, the Board and the FDIC are separately adopting a final rule that amends the resolution planning requirements under section 165(d) of the Dodd-Frank Wall Street Reform and Consumer Protection Act using a risk-based category framework that is consistent with the framework described in this final rule.
Prudential Standards for Large Bank Holding Companies, Savings and Loan Holding Companies, and Foreign Banking Organizations
Document Number: 2019-23662
Type: Rule
Date: 2019-11-01
Agency: Federal Reserve System, Agencies and Commissions
The Board of Governors of the Federal Reserve System (Board) is adopting a final rule that establishes risk-based categories for determining prudential standards for large U.S. banking organizations and foreign banking organizations, consistent with section 165 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, as amended by the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA), and with the Home Owners' Loan Act. The final rule amends certain prudential standards, including standards relating to liquidity, risk management, stress testing, and single-counterparty credit limits, to reflect the risk profile of banking organizations under each category; applies prudential standards to certain large savings and loan holding companies using the same categories; makes corresponding changes to reporting forms; and makes additional modifications to the Board's company-run stress test and supervisory stress test rules, consistent with section 401 of EGRRCPA. Separately, the Office of the Comptroller of the Currency (OCC), the Board, and the Federal Deposit Insurance Corporation (FDIC) are adopting a final rule that revises the criteria for determining the applicability of regulatory capital and standardized liquidity requirements for large U.S. banking organizations and the U.S. intermediate holding companies of foreign banking organizations, using a risk-based category framework that is consistent with the framework described in this final rule. In addition, the Board and the FDIC are separately adopting a final rule that amends the resolution planning requirements under section 165(d) of the Dodd-Frank Wall Street Reform and Consumer Protection Act using a risk-based category framework that is consistent with the framework described in this final rule.
Formations of, Acquisitions by, and Mergers of Bank Holding Companies
Document Number: 2019-23707
Type: Notice
Date: 2019-10-30
Agency: Federal Reserve System, Agencies and Commissions
Appraisals for Higher-Priced Mortgage Loans Exemption Threshold
Document Number: 2019-21559
Type: Rule
Date: 2019-10-30
Agency: Federal Reserve System, Agencies and Commissions, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Bureau of Consumer Financial Protection
The OCC, the Board, and the Bureau are finalizing amendments to the official interpretations for their regulations that implement section 129H of the Truth in Lending Act (TILA). Section 129H of TILA establishes special appraisal requirements for ``higher-risk mortgages,'' termed ``higher-priced mortgage loans'' or ``HPMLs'' in the agencies' regulations. The OCC, the Board, the Bureau, the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), and the Federal Housing Finance Agency (FHFA) (collectively, the Agencies) issued joint final rules implementing these requirements, effective January 18, 2014. The Agencies' rules exempted, among other loan types, transactions of $25,000 or less, and required that this loan amount be adjusted annually based on any annual percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). If there is no annual percentage increase in the CPI-W, the OCC, the Board, and the Bureau will not adjust this exemption threshold from the prior year. However, in years following a year in which the exemption threshold was not adjusted, the threshold is calculated by applying the annual percentage increase in the CPI-W to the dollar amount that would have resulted, after rounding, if the decreases and any subsequent increases in the CPI-W had been taken into account. Based on the CPI-W in effect as of June 1, 2019, the exemption threshold will increase from $26,700 to $27,200, effective January 1, 2020.
Truth in Lending (Regulation Z)
Document Number: 2019-21557
Type: Rule
Date: 2019-10-30
Agency: Federal Reserve System, Agencies and Commissions, Bureau of Consumer Financial Protection
The Board and the Bureau are publishing final rules amending the official interpretations and commentary for the agencies' regulations that implement the Truth in Lending Act (TILA). The Dodd- Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) amended TILA by requiring that the dollar threshold for exempt consumer credit transactions be adjusted annually by the annual percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). If there is no annual percentage increase in the CPI-W, the Board and the Bureau will not adjust this exemption threshold from the prior year. However, in years following a year in which the exemption threshold was not adjusted, the threshold is calculated by applying the annual percentage change in the CPI-W to the dollar amount that would have resulted, after rounding, if the decreases and any subsequent increases in the CPI-W had been taken into account. Based on the annual percentage increase in the CPI-W as of June 1, 2019, the exemption threshold will increase from $57,200 to $58,300 effective January 1, 2020. Because the Dodd-Frank Act also requires similar adjustments in the Consumer Leasing Act's threshold for exempt consumer leases, the Board and the Bureau are making similar amendments to each of their respective regulations implementing the Consumer Leasing Act elsewhere in this issue of the Federal Register.
Consumer Leasing (Regulation M)
Document Number: 2019-21554
Type: Rule
Date: 2019-10-30
Agency: Federal Reserve System, Agencies and Commissions, Bureau of Consumer Financial Protection
The Board and the Bureau are finalizing amendments to the official interpretations and commentary for the agencies' regulations that implement the Consumer Leasing Act (CLA). The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) amended the CLA by requiring that the dollar threshold for exempt consumer leases be adjusted annually by the annual percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). If there is no annual percentage increase in the CPI-W, the Board and the Bureau will not adjust this exemption threshold from the prior year. However, in years following a year in which the exemption threshold was not adjusted, the threshold is calculated by applying the annual percentage change in the CPI-W to the dollar amount that would have resulted, after rounding, if the decreases and any subsequent increases in the CPI-W had been taken into account. Based on the annual percentage increase in the CPI-W as of June 1, 2019, the exemption threshold will increase from $57,200 to $58,300 effective January 1, 2020. Because the Dodd-Frank Act also requires similar adjustments in the Truth in Lending Act's threshold for exempt consumer credit transactions, the Board and the Bureau are making similar amendments to each of their respective regulations implementing the Truth in Lending Act elsewhere in this issue of the Federal Register.