Financial Market Utilities

October 5, 2022 Regulation lookup, The Fed 0

Title: Financial market utilities
Subject: Regulation HH; operational risk management
Agency: Federal Reserve
Status:
Proposed rule
Summary:

The Board of Governors of the Federal Reserve System (Board) is proposing to amend the requirements relating to operational risk management in the Board’s Regulation HH, which applies to certain financial market utilities that have been designated as systemically important (designated FMUs) by the Financial Stability Oversight Council (FSOC) under Title VIII of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act or Act). The proposal would update, refine, and add specificity to the operational risk management requirements in Regulation HH to reflect changes in the operational risk, technology, and regulatory landscapes in which designated FMUs operate since the Board last amended this regulation in 2014. The proposal would also adopt specific incident-notification requirements.
FR Doc:

2022-21222
Date proposed: Sept. 23, 2022
Comments due date: Dec. 5, 2022
Effective date:

Rule compliance date:
Agency release:

Federal Reserve Board invites comment on updates to operational risk-management requirements for certain systemically important financial market utilities (FMUs) supervised by the Board
Related Reg Report item(s):

Fed proposal takes stab at operational risk management for systemically important FMUs