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Comments due: FDIC, Federal Reserve, OCC (interim final rule; temporary asset thresholds)

February 1

To mitigate temporary transition costs on banking organizations related to the coronavirus disease 2019 (COVID event), the Federal Deposit Insurance Corp. (FDIC), Federal Reserve, and Office of the Comptroller of the Currency (OCC) have issued 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 Dec. 31, 2019, (community banking organizations) to use asset data as of Dec. 31, 2019, in order to determine the applicability of various regulatory asset thresholds during calendar years 2020 and 2021. The Federal Reserve 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 Dec. 31, 2019, in order to determine reporting requirements for reports due in calendar years 2020 or 2021.

Reg lookup: Temporary Asset Thresholds

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Date:
February 1
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