The New Regulatory Regime for Savings and Loan Holding Companies

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The Board of Governors of the Federal Reserve System (Federal Reserve) on August 12, 2011 issued an interim final rule (Rule) setting forth regulations governing savings and loan holding companies (SLHCs). The Rule was adopted pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank), which transferred responsibility for the supervision and regulation of SLHCs from the Office of Thrift Supervision (OTS) to the Federal Reserve effective July 21, 2011.

The Rule has three components: (i) new regulations governing SLHCs organized in stock form, (ii) new regulations governing SLHCs organized in mutual form, and (iii) various technical amendments to current Federal Reserve regulations necessary to accommodate the transfer of supervisory authority over SLHCs to the Federal Reserve.

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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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