2023-26202: Long-Term Debt Requirements for Large Bank Holding Companies, Certain Intermediate Holding Companies of Foreign Banking Organizations, and Large Insured Depository Institutions; Extension of Comment Period

Summary

On September 19, 2023, the Board of Governors of the Federal Reserve System (Board), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) (collectively, the "agencies") published in the Federal Register a proposal to require certain large depository institution holding companies, U.S. intermediate holding companies of foreign banking organizations, and insured depository institutions, to issue and maintain outstanding a minimum amount of long-term debt. The agencies have determined that an extension of the comment period until January 16, 2024, is appropriate.

The agency’s own summary, as published.

What this changes

Amends 8 parts of the Code of Federal Regulations — the standing rules this notice rewrites.

• 12 CFR 3 Capital Adequacy Standards
• 12 CFR 54
• 12 CFR 216 Part 216 [Reserved]
• 12 CFR 217 Capital Adequacy of Bank Holding Companies, Savings and Loan Holding Companies, and State Member Banks (Regulation Q)
• 12 CFR 238 Savings and Loan Holding Companies (Regulation LL)
• 12 CFR 252 Enhanced Prudential Standards (Regulation YY)
• 12 CFR 324 Capital Adequacy of FDIC-Supervised Institutions
• 12 CFR 374