Temporary Asset Thresholds

Title:
Temporary Asset Thresholds
Subject: Regulatory asset thresholds
Agency: FDIC, Federal Reserve, OCC
Status: Interim final rule; COVID response
Summary:

To mitigate temporary transition costs on banking organizations related to the coronavirus disease 2019 (COVID event), the OCC, Board, and the FDIC (together, the agencies) are issuing an interim final rule to permit national banks, savings associations, state banks, bank holding companies, savings and loan holding companies, and U.S. branches and agencies of foreign banking organizations with under $10 billion in total assets as of December 31, 2019, (community banking organizations) to use asset data as of December 31, 2019, in order to determine the applicability of various regulatory asset thresholds during calendar years 2020 and 2021. For the same reasons, the Board is temporarily revising the instructions to a number of its regulatory reports to provide that community banking organizations may use asset data as of December 31, 2019, in order to determine reporting requirements for reports due in calendar years 2020 or 2021.

FR Doc: 2020-26138
Date proposed: Nov. 23, 2020
Comments due date: Feb. 1, 2021
Effective date:

Dec. 2, 2020

Rule compliance date:
Agency release:

Related Reg Report item(s): Agencies offer banks with $10B or less relief from rules triggered by pandemic-related asset bloat

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