FDIC Extends Comment Period On Stress Tests

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On March 21, the Federal Deposit Insurance Corporation (FDIC) extended until April 30, 2012, the comment period on a proposal to implement the requirements in Section 165 of the Dodd-Frank Wall Street Reform and Consumer Protection Act to require state, non-member banks and savings associations with more than $10 billion in consolidated assets to conduct annual stress tests.

Due to "the scope and complexity of the proposal," the FDIC extended the comment period to allow interested persons more time to analyze the issues and prepare their comments. Originally, comments were due by March 23.

Please see article below.

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Published In: Administrative Agency Updates, Finance & Banking Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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