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Comments due: Federal Reserve (proposed rule; single-counterparty credit limits)
December 20, 2019
The Board is proposing to amend the compliance dates for Single-Counterparty Credit Limits for Bank Holding Companies and Foreign Banking Organizations, which it finalized in a rule (final SCCL rule), published in the Federal Register on August 6, 2018. The Board is requesting comment on a proposed amendment that would modify these initial compliance dates to July 1, 2021, and January 1, 2022, respectively, regarding the single-counterparty credit limits applicable to a foreign banking organization’s combined U.S. operations only.