Federal Reserve Board

This afternoon, the Federal Reserve Board (Fed) proposed a number of regulations that would implement sections 165 and 166 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

The regulations, which will apply to all U.S. bank holding companies with consolidated assets of $50 billion or more and any nonbank financial firms that may be designated by the Financial Stability Oversight Council as systemically important, cover a number of financial services issues, including risk-based capital requirements, leverage, resolution planning and concentration limits. The regulations also detail how the Fed plans to regulate large, interconnected financial institutions and nonbanks.

With the exception of stress testing for bank holding companies, which would take effect shortly after the rule is finalized, companies would have a year after the regulations are finalized to be in compliance. Comments on the proposal are due by March 31, 2012.

AFSA plans to submit a comment letter on the proposal. Contact Celia Winslow at cwinslow@afsamail.org if your company is interested in participating in drafting the association’s comments.

Read the Fed news release here.

Read the proposed regulations here.

For more information, contact AFSA Executive Vice President Bill Himpler at bhimpler@afsamail.org or 202-466-8616.