All five regulatory rule and guidance proposals issued by federal banking agencies Aug. 29, and published in the Federal Register the week of Sept. 18, can now be found in the Regulatory Lookup section of RegReport.info.
The five proposals, which follow months of study by regulators of the causes that led to the failures this spring of three mid-size banking organizations (as well as some mis-steps by regulators), would revise the rules for regulatory capital, create a requirement for the retention of a minimum amount of long-term debt, and revise the guidance issued to federally insured banks on the creation of resolution plans, or “living wills,” in an effort to ensure the orderly wind-down of a failed bank and limit its impact on the banking sector, the federal bank deposit insurance fund, and overall financial stability.
The regulatory capital and long-term debt proposals were issued jointly by the Federal Deposit Insurance Corp. (FDIC), Federal Reserve, and Office of the Comptroller of the Currency (OCC); the proposal to revise resolution plan requirements of insured depository institutions was issued by the FDIC; and the two proposals regarding guidance for resolution plan submissions by domestic and foreign triennial “full filers” were issued jointly by the FDIC and the Federal Reserve Board.
Comments on all five proposals are due to the agencies by Nov. 30.