Federal Reserve System 2020 – Federal Register Recent Federal Regulation Documents

Formations of, Acquisitions by, and Mergers of Bank Holding Companies
Document Number: 2020-11326
Type: Notice
Date: 2020-05-27
Agency: Federal Reserve System, Agencies and Commissions
Solicitation of Applications for Membership on the Community Advisory Council Extension of Application Period
Document Number: 2020-11186
Type: Notice
Date: 2020-05-26
Agency: Federal Reserve System, Agencies and Commissions
On March 27, 2020 the Board published in the Federal Register a notice seeking applications for membership on the Community Advisory Council (CAC). The application period for this notice has been extended in light of ongoing challenges for households and businesses caused by the COVID-19 emergency in order to provide additional opportunity for interested persons to submit their application. The application period for individuals who wish to serve as CAC members has been extended until July 3, 2020.
Formations of, Acquisitions by, and Mergers of Bank Holding Companies
Document Number: 2020-10878
Type: Notice
Date: 2020-05-20
Agency: Federal Reserve System, Agencies and Commissions
Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company
Document Number: 2020-10796
Type: Notice
Date: 2020-05-20
Agency: Federal Reserve System, Agencies and Commissions
Regulatory Capital Rule: Revised Transition of the Current Expected Credit Losses Methodology for Allowances; Correction
Document Number: 2020-08789
Type: Rule
Date: 2020-05-19
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury
The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation published an interim final rule in the Federal Register on March 31, 2020, that delays the estimated impact on regulatory capital stemming from the implementation of Accounting Standards Update No. 2016-13, Financial InstrumentsCredit Losses, Topic 326, Measurement of Credit Losses on Financial Instruments (CECL). This correcting amendment corrects errors in and clarifies the March 31, 2020, interim final rule.
Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company
Document Number: 2020-10615
Type: Notice
Date: 2020-05-18
Agency: Federal Reserve System, Agencies and Commissions
Agency Information Collection Activities: Announcement of Temporary Approval by the Board Under Delegated Authority and Submission to OMB
Document Number: 2020-10467
Type: Notice
Date: 2020-05-15
Agency: Federal Reserve System, Agencies and Commissions
The Board of Governors of the Federal Reserve System (Board) has temporarily revised the Reporting Requirements Associated with Emergency Lending Under Section 13(3) (FR A; OMB No. 7100-0373), pursuant to the authority delegated to the Board by the Office of Management and Budget (OMB).
Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company
Document Number: 2020-10267
Type: Notice
Date: 2020-05-13
Agency: Federal Reserve System, Agencies and Commissions
Formations of, Acquisitions by, and Mergers of Bank Holding Companies
Document Number: 2020-10020
Type: Notice
Date: 2020-05-11
Agency: Federal Reserve System, Agencies and Commissions
Proposed Agency Information Collection Activities; Comment Request
Document Number: 2020-09940
Type: Notice
Date: 2020-05-11
Agency: Federal Reserve System, Agencies and Commissions
The Board of Governors of the Federal Reserve System (Board) invites comment on a proposal to extend, for three years, with revision, the ad hoc clearance for the Survey of Household Economics and Decisionmaking (SHED) (FR 3077; OMB No. 7100-0374).
Proposed Agency Information Collection Activities; Comment Request
Document Number: 2020-09939
Type: Notice
Date: 2020-05-11
Agency: Federal Reserve System, Agencies and Commissions
The Board of Governors of the Federal Reserve System (Board) invites comment on a proposal to extend for three years, without revision, the ad hoc clearance for Surveys of Consumer and Community Affairs Publications and Resources (FR 1378; OMB No. 7100-0358).
Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB
Document Number: 2020-09937
Type: Notice
Date: 2020-05-11
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, without revision, the Registration of Mortgage Loan Originators (CFPB G; OMB No. 7100-0328).
Formations of, Acquisitions by, and Mergers of Bank Holding Companies
Document Number: 2020-09934
Type: Notice
Date: 2020-05-11
Agency: Federal Reserve System, Agencies and Commissions
Liquidity Coverage Ratio Rule: Treatment of Certain Emergency Facilities
Document Number: 2020-09716
Type: Rule
Date: 2020-05-06
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury
To provide liquidity to the money market sector, small business lenders, and the broader credit markets in order to stabilize the financial system, the Board of Governors of the Federal Reserve System (Board) authorized the establishment of the Money Market Mutual Fund Liquidity Facility (MMLF) and the Paycheck Protection Program Liquidity Facility (PPPLF), pursuant to section 13(3) of the Federal Reserve Act. To facilitate use of these Federal Reserve facilities, and to ensure that the effects of their use are consistent and predictable under the Liquidity Coverage Ratio (LCR) rule, the Office of the Comptroller of the Currency, the Board, and the Federal Deposit Insurance Corporation (together, the agencies) are adopting this interim final rule to require banking organizations to neutralize the effect under the LCR rule of participating in the MMLF and the PPPLF.
Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company
Document Number: 2020-09585
Type: Notice
Date: 2020-05-05
Agency: Federal Reserve System, Agencies and Commissions
Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company
Document Number: 2020-09347
Type: Notice
Date: 2020-05-01
Agency: Federal Reserve System, Agencies and Commissions
Agency Information Collection Activities: Announcement of Temporary Approval by the Board Under Delegated Authority and Submission to OMB
Document Number: 2020-09342
Type: Notice
Date: 2020-05-01
Agency: Federal Reserve System, Agencies and Commissions
The Board of Governors of the Federal Reserve System (Board) has temporarily revised the Reports of Deposits (FR 2900 series; OMB Control Number 7100-0087), the Financial Statements for Holding Companies (FR Y-9 reports; OMB Control Number 7100-0128), and the Consolidated Report of Condition and Income for Edge and Agreement Corporations (FR 2886b; OMB Control Number 7100-0086) pursuant to the authority delegated to the Board by the Office of Management and Budget (OMB). The revisions are applicable only to the reports' instructions.
Guidance for Resolution Plan Submissions of Certain Foreign-Based Covered Companies; Extension of Comment Period
Document Number: 2020-09096
Type: Notice
Date: 2020-04-29
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System
On March 18, 2020, the Board and the FDIC (together, the agencies) published in the Federal Register a document entitled ``Guidance for Resolution Plan Submissions of Certain Foreign-Based Covered Companies'' (document). The document invited comments on proposed guidance for the 2021 and subsequent resolution plan submissions by certain foreign banking organizations. The proposed guidance is intended to assist these firms in developing their resolution plans, which are required to be submitted pursuant to Section 165(d) of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The document provided for a comment period ending on May 5, 2020. The agencies have determined that an extension of the comment period until June 4, 2020, is appropriate. This action will allow interested parties additional time to analyze the proposal and prepare and submit comments.
Temporary Actions To Support the Flow of Credit to Households and Businesses by Encouraging Use of Intraday Credit
Document Number: 2020-09052
Type: Rule
Date: 2020-04-28
Agency: Federal Reserve System, Agencies and Commissions
Due to the extraordinary disruptions from the coronavirus disease 2019 (COVID-19), the Board of Governors of the Federal Reserve System (Board) is announcing temporary actions aimed at encouraging healthy depository institutions to utilize intraday credit extended by Federal Reserve Banks (Reserve Banks). The Board recognizes that the Federal Reserve has an important role in providing intraday balances and credit to foster the smooth operation of the payment system. These temporary actions are intended to support the provision of liquidity to households and businesses and the general smooth functioning of payment systems.
Regulation D: Reserve Requirements of Depository Institutions
Document Number: 2020-09044
Type: Rule
Date: 2020-04-28
Agency: Federal Reserve System, Agencies and Commissions
The Board of Governors of the Federal Reserve System (``Board'') is amending its Regulation D (Reserve Requirements of Depository Institutions) to delete the numeric limits on certain kinds of transfers and withdrawals that may be made each month from ``savings deposits.'' The amendments are intended to allow depository institution customers more convenient access to their funds and to simplify account administration for depository institutions. There are no mandatory changes to deposit reporting associated with the amendments.
Formations of, Acquisitions by, and Mergers of Bank Holding Companies
Document Number: 2020-09012
Type: Notice
Date: 2020-04-28
Agency: Federal Reserve System, Agencies and Commissions
Formations of, Acquisitions by, and Mergers of Bank Holding Companies
Document Number: 2020-08866
Type: Notice
Date: 2020-04-27
Agency: Federal Reserve System, Agencies and Commissions
Notice of Proposals To Engage in or To Acquire Companies Engaged in Permissible Nonbanking Activities
Document Number: 2020-08783
Type: Notice
Date: 2020-04-24
Agency: Federal Reserve System, Agencies and Commissions
Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company
Document Number: 2020-08782
Type: Notice
Date: 2020-04-24
Agency: Federal Reserve System, Agencies and Commissions
FEDERAL DEPOSIT INSURANCE CORPORATION
Document Number: 2020-07449
Type: Rule
Date: 2020-04-23
Agency: Federal Reserve System, Agencies and Commissions, Department of Treasury, Office of the Comptroller of the Currency
This interim final rule makes temporary changes to the community bank leverage ratio framework, pursuant to section 4012 of the Coronavirus Aid, Relief, and Economic Security Act (statutory interim final rule). As of the second quarter 2020, a banking organization with a leverage ratio of 8 percent or greater (and that meets other qualifying criteria) may elect to use the community bank leverage ratio framework. The statutory interim final rule also establishes a two-quarter grace period for a qualifying community banking organization whose leverage ratio falls below the 8-percent community bank leverage ratio requirement, so long as the banking organization maintains a leverage ratio of 7 percent or greater. The temporary changes to the community bank leverage ratio framework implemented by this statutory interim final rule will cease to be effective as of the earlier of the termination date of the national emergency concerning the coronavirus disease declared by the President on March 13, 2020, under the National Emergencies Act, or December 31, 2020. To provide clarity to banking organizations, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation issued concurrently an interim final rule that provides a transition from the temporary 8-percent community bank leverage ratio requirement to a 9- percent community bank leverage ratio requirement.
Regulatory Capital Rule: Transition for the Community Bank Leverage Ratio Framework
Document Number: 2020-07448
Type: Rule
Date: 2020-04-23
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Department of Treasury, Office of the Comptroller of the Currency
This interim final rule provides a graduated transition to a community bank leverage ratio requirement of 9 percent from the temporary 8-percent community bank leverage ratio requirement (transition interim final rule). When the requirements in the transition interim final rule become applicable, the community bank leverage ratio will be 8 percent beginning in the second quarter of calendar year 2020, 8.5 percent through calendar year 2021, and 9 percent thereafter. The transition interim 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 Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (together, the agencies) issued concurrently an interim final rule that established an 8-percent community bank leverage ratio, as mandated under the Coronavirus Aid, Relief, and Economic Security Act. The agencies are issuing the transition interim final rule to provide community banking organizations with sufficient time and clarity to meet the 9 percent leverage ratio requirement under the community bank leverage ratio framework while they also focus on supporting lending to creditworthy households and businesses given the recent strains on the U.S. economy caused by the coronavirus disease emergency.
Loans to Executive Officers, Directors, and Principal Shareholders of Member Banks
Document Number: 2020-08574
Type: Rule
Date: 2020-04-22
Agency: Federal Reserve System, Agencies and Commissions
In light of recent disruptions in economic conditions caused by the Coronavirus Disease 2019 and current strains in U.S. financial markets, the Board is issuing an interim final rule that excepts certain loans that are guaranteed under the Small Business Administration's Paycheck Protection Program from the requirements of section 22(h) of the Federal Reserve Act and the corresponding provisions of the Board's Regulation O.
Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company
Document Number: 2020-08404
Type: Notice
Date: 2020-04-21
Agency: Federal Reserve System, Agencies and Commissions
Real Estate Appraisals
Document Number: 2020-08216
Type: Rule
Date: 2020-04-17
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury
The OCC, Board, and FDIC (collectively, the agencies) are adopting an interim final rule to amend the agencies' regulations requiring appraisals of real estate for certain transactions. The interim final rule defers the requirement to obtain an appraisal or evaluation for up to 120 days following the closing of a transaction for certain residential and commercial real estate transactions, excluding transactions for acquisition, development, and construction of real estate. Regulated institutions should make best efforts to obtain a credible valuation of real property collateral before the loan closing, and otherwise underwrite loans consistent with the principles in the agencies' Standards for Safety and Soundness and Real Estate Lending Standards. The agencies are providing this relief to allow regulated institutions to expeditiously extend liquidity to creditworthy households and businesses in light of recent strains on the U.S. economy as a result of the National Emergency declared in connection with coronavirus disease 2019 (COVID-19).
Formations of, Acquisitions by, and Mergers of Bank Holding Companies
Document Number: 2020-08187
Type: Notice
Date: 2020-04-17
Agency: Federal Reserve System, Agencies and Commissions
Temporary Exclusion of U.S. Treasury Securities and Deposits at Federal Reserve Banks From the Supplementary Leverage Ratio
Document Number: 2020-07345
Type: Rule
Date: 2020-04-14
Agency: Federal Reserve System, Agencies and Commissions
In light of recent disruptions in economic conditions caused by the coronavirus disease 2019 (COVID-19) and current strains in U.S. financial markets, the Board is issuing an interim final rule that revises, on a temporary basis for bank holding companies, savings and loan holding companies, and U.S. intermediate holding companies of foreign banking organizations, the calculation of total leverage exposure, the denominator of the supplementary leverage ratio in the Board's capital rule, to exclude the on-balance sheet amounts of U.S. Treasury securities and deposits at Federal Reserve Banks. This exclusion has immediate effect and will remain in effect through March 31, 2021. The Board is adopting this interim final rule to allow bank holding companies, savings and loan holding companies, and intermediate holding companies subject to the supplementary leverage ratio increased flexibility to continue to act as financial intermediaries. The tier 1 leverage ratio is not affected by this rulemaking.
Proposed Agency Information Collection Activities; Comment Request
Document Number: 2020-07740
Type: Notice
Date: 2020-04-13
Agency: Federal Reserve System, Agencies and Commissions
The Board of Governors of the Federal Reserve System (Board) invites comment on a proposal to extend for three years, without revision, the Ongoing Intermittent Survey of Households (FR 3016; OMB No. 7100-0150).
Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB
Document Number: 2020-07739
Type: Notice
Date: 2020-04-13
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 Census of Finance Companies and Survey of Finance Companies (FR 3033p and FR 3033s; OMB No. 7100-0277). The revisions are effective immediately.
Regulatory Capital Rule: Paycheck Protection Program Lending Facility and Paycheck Protection Program Loans
Document Number: 2020-07712
Type: Rule
Date: 2020-04-13
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury
To provide liquidity to small business lenders and the broader credit markets, to help stabilize the financial system, and to provide economic relief to small businesses nationwide, the Board of Governors of the Federal Reserve System (Board) authorized each of the Federal Reserve Banks to participate in the Paycheck Protection Program Lending Facility (PPPL Facility), pursuant to section 13(3) of the Federal Reserve Act. Under the PPPL Facility, each of the Federal Reserve Banks will extend non-recourse loans to eligible financial institutions to fund loans guaranteed by the Small Business Administration under the Paycheck Protection Program established by the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). To facilitate use of this Federal Reserve facility, the Office of the Comptroller of the Currency, the Board, and the Federal Deposit Insurance Corporation (together, the agencies) are adopting this interim final rule to allow banking organizations to neutralize the regulatory capital effects of participating in the facility. This treatment is similar to the treatment extended previously by the agencies in connection with the Federal Reserve's Money Market Mutual Fund Liquidity Facility. In addition, as mandated by section 1102 of the CARES Act, loans originated under the Small Business Administration's Paycheck Protection Program will receive a zero percent risk weight under the agencies' regulatory capital rule.
Formations of, Acquisitions by, and Mergers of Bank Holding Companies
Document Number: 2020-07639
Type: Notice
Date: 2020-04-13
Agency: Federal Reserve System, Agencies and Commissions
Proposed Agency Information Collection Activities; Comment Request
Document Number: 2020-07455
Type: Notice
Date: 2020-04-09
Agency: Federal Reserve System, Agencies and Commissions
The Board of Governors of the Federal Reserve System (Board) has temporarily revised the Financial Statements for Holding Companies (FR Y-9; OMB No. 7100-0128) pursuant to the authority delegated to the Board by the Office of Management and Budget (OMB), (OMB Regulations on Controlling Paperwork Burdens on the Public). The revisions are applicable only to reports reflecting the March 31, 2020, as of date. Additionally, the Board invites comment on a proposal to extend for three years, with revision, the FR Y-9.
Formations of, Acquisitions by, and Mergers of Bank Holding Companies
Document Number: 2020-07416
Type: Notice
Date: 2020-04-09
Agency: Federal Reserve System, Agencies and Commissions
Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company
Document Number: 2020-07415
Type: Notice
Date: 2020-04-09
Agency: Federal Reserve System, Agencies and Commissions
Formations of, Acquisitions by, and Mergers of Bank Holding Companies
Document Number: 2020-07291
Type: Notice
Date: 2020-04-07
Agency: Federal Reserve System, Agencies and Commissions
Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company
Document Number: 2020-07290
Type: Notice
Date: 2020-04-07
Agency: Federal Reserve System, Agencies and Commissions
Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company
Document Number: 2020-07169
Type: Notice
Date: 2020-04-06
Agency: Federal Reserve System, Agencies and Commissions
Federal Reserve Policy on Payment System Risk; U.S. Branches and Agencies of Foreign Banking Organizations
Document Number: 2020-06482
Type: Rule
Date: 2020-04-06
Agency: Federal Reserve System, Agencies and Commissions
The Board of Governors of the Federal Reserve System (``Board'') is delaying the implementation date of changes to part II of the Federal Reserve Policy on Payment System Risk (``PSR policy'') related to procedures for determining the net debit cap and maximum daylight overdraft capacity of a U.S. branch or agency of a foreign banking organization (``FBO'').
Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company
Document Number: 2020-07055
Type: Notice
Date: 2020-04-03
Agency: Federal Reserve System, Agencies and Commissions
Control and Divestiture Proceedings
Document Number: 2020-06993
Type: Rule
Date: 2020-04-02
Agency: Federal Reserve System, Agencies and Commissions
The Board is delaying the effective date of its final rule that revises the Board's framework for determining whether a company controls another company for purposes of the Bank Holding Company Act or the Home Owners' Loan Act, as published on March 2, 2020.
Notice of Proposals To Engage in or To Acquire Companies Engaged in Permissible Nonbanking Activities
Document Number: 2020-06814
Type: Notice
Date: 2020-04-01
Agency: Federal Reserve System, Agencies and Commissions
Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB
Document Number: 2020-06753
Type: Notice
Date: 2020-04-01
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 Financial Statements for Holding Companies (FR Y-9 reports; OMB No. 7100-0128). The revisions are applicable as of March 31, 2020, June 30, 2020, and March 31, 2021.
Privacy Act of 1974; System of Records
Document Number: 2020-06507
Type: Notice
Date: 2020-04-01
Agency: Federal Reserve System, Agencies and Commissions
Pursuant to the provisions of the Privacy Act of 1974, notice is given that the Board of Governors of the Federal Reserve System (Board) proposes to establish a new system of records, BGFRS-43, ``FRBSecurity Sharing Platform.''
Privacy Act of 1974; Privacy Act Regulation
Document Number: 2020-06506
Type: Proposed Rule
Date: 2020-04-01
Agency: Federal Reserve System, Agencies and Commissions
Pursuant to the provisions of the Privacy Act of 1974, notice is given that the Board of Governors of the Federal Reserve System (Board) proposes to amend its regulation implementing the Privacy Act of 1974 (Privacy Act Rule). The Board is proposing to add a new system of records entitled BGFRS-43, ``FRBSecurity Sharing Platform,'' to those identified as an ``exempt'' system of records. Notice of this new system of records is published elsewhere in this issue of the Federal Register.
Regulatory Capital Rule: Revised Transition of the Current Expected Credit Losses Methodology for Allowances
Document Number: 2020-06770
Type: Rule
Date: 2020-03-31
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 inviting comment on an interim final rule that delays the estimated impact on regulatory capital stemming from the implementation of Accounting Standards Update No. 2016-13, Financial InstrumentsCredit Losses, Topic 326, Measurement of Credit Losses on Financial Instruments (CECL). The interim final rule provides banking organizations that implement CECL before the end of 2020 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. The agencies are providing this relief to allow such banking organizations to better focus on supporting lending to creditworthy households and businesses in light of recent strains on the U.S. economy as a result of the coronavirus disease 2019 (COVID- 19), while also maintaining the quality of regulatory capital.