Federal Reserve to Vote on Final Capital Rules

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On June 27 the Board of Governors of the Federal Reserve System (Federal Reserve) announced that it will vote this Tuesday on the final version of rules that will require financial institutions to achieve higher levels of high-quality capital. No details of the final regulation were immediately available at this writing. All segments of the banking industry, from the largest of the large to the very smallest banks, have a keen interest in seeing to what extent the earlier version of the rules will be relaxed or maintained. Neither the Office of the Comptroller of the Currency, which regulates national banks and federal savings banks, nor the Federal Deposit Insurance Corporation, which regulates state-chartered, non-member banks, has set a date for their consideration of the rules, which are not expected to be fully phased in until January 2019. Generally, the Federal Reserve has jurisdiction over bank and financial holding companies, as well as state-chartered member banks.

Topics:  Banks, Capital Rules, Federal Reserve

Published In: 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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