Federal Reserve System February 11, 2011 – Federal Register Recent Federal Regulation Documents

The Board is publishing for comment proposed amendments to Regulation Y that establish the criteria for determining whether a company is ``predominantly engaged in financial activities'' and define the terms ``significant nonbank financial company'' and ``significant bank holding company'' for purposes of Title I of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (the ``Dodd-Frank Act'' or ``Act''). These terms are relevant to various provisions of Title I of the Dodd-Frank Act, including section 113, which authorizes the Financial Stability Oversight Council (``Council'') to designate a nonbank financial company for supervision by the Board if the Council determines that the company could pose a threat to the financial stability of the United States. The Council recently requested comment on a proposed rule to implement section 113 of the Dodd-Frank Act.