Single-Counterparty Credit Limits for Bank Holding Companies and Foreign Banking Organizations

November 20, 2019 Regulation lookup, The Fed 0

Title:
Single-Counterparty Credit Limits for Bank Holding Companies and Foreign Banking Organizations
Subject: Single-counterparty credit limits
Agency: Federal Reserve
Status: Final rule
Summary:
The Board is adopting a final rule to amend the compliance dates related to Single-Counterparty Credit Limits for Bank Holding Companies and Foreign Banking Organizations (final SCCL rule). The final rule revises the final SCCL rule to modify the initial compliance dates of January 1, 2020, for a foreign banking organization that has the characteristics of a global systemically important banking organization, and July 1, 2020, for any other foreign banking organization subject to the final SCCL rule to July 1, 2021, and January 1, 2022, respectively, regarding the SCCL applicable to a foreign banking organization’s combined U.S. operations only.
FR Doc:
2020-09665
Date proposed: Nov. 20, 2019
Comments due date:

Dec. 20, 2019
Final rule effective date: May 28, 2020
Rule compliance date:
Agency release:

Related Reg Report item(s):

Fed proposes more compliance time for foreign banks’ U.S. operations under single-counterparty credit limits rule