Proposed Rule2022-27475
Resolution-Related Resource Requirements for Large Banking Organizations; Extension of Comment Period
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
December 19, 2022
Effective
October 24, 2022
Issuing agencies
Federal Reserve SystemFederal Deposit Insurance Corporation
Abstract
On October 24, 2022, the Board of Governors of the Federal Reserve System (Board) and the Federal Deposit Insurance Corporation (FDIC) (together, the agencies) published in the Federal Register an advance notice of proposed rulemaking (ANPR) to solicit public input regarding whether an extra layer of loss-absorbing capacity could improve optionality in resolving a large banking organization or its insured depository institution, and the costs and benefits of such a requirement. The agencies have determined that an extension of the comment period until January 23, 2023, is appropriate, and are therefore making that extension.
Full Text
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<title>Federal Register, Volume 87 Issue 242 (Monday, December 19, 2022)</title>
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[Federal Register Volume 87, Number 242 (Monday, December 19, 2022)]
[Proposed Rules]
[Page 77529]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-27475]
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Proposed Rules
Federal Register
________________________________________________________________________
This section of the FEDERAL REGISTER contains notices to the public of
the proposed issuance of rules and regulations. The purpose of these
notices is to give interested persons an opportunity to participate in
the rule making prior to the adoption of the final rules.
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Federal Register / Vol. 87, No. 242 / Monday, December 19, 2022 /
Proposed Rules
[[Page 77529]]
FEDERAL RESERVE SYSTEM
12 CFR Chapter II
[Docket No. R-1786]
RIN 7100-AG44
FEDERAL DEPOSIT INSURANCE CORPORATION
12 CFR Chapter III
RIN 3064-AF86
Resolution-Related Resource Requirements for Large Banking
Organizations; Extension of Comment Period
AGENCY: Board of Governors of the Federal Reserve System, Federal
Deposit Insurance Corporation.
ACTION: Advance notice of proposed rulemaking; extension of comment
period.
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SUMMARY: On October 24, 2022, the Board of Governors of the Federal
Reserve System (Board) and the Federal Deposit Insurance Corporation
(FDIC) (together, the agencies) published in the Federal Register an
advance notice of proposed rulemaking (ANPR) to solicit public input
regarding whether an extra layer of loss-absorbing capacity could
improve optionality in resolving a large banking organization or its
insured depository institution, and the costs and benefits of such a
requirement. The agencies have determined that an extension of the
comment period until January 23, 2023, is appropriate, and are
therefore making that extension.
DATES: The comment period for the advance notice of proposed rulemaking
published October 24, 2022, at 87 FR 64170, is extended. Comments must
be received by January 23, 2023.
ADDRESSES: You may submit comments by any of the methods identified in
the ANPR.
FOR FURTHER INFORMATION CONTACT:
Board: Molly Mahar, Senior Associate Director, (202) 973-7360;
Catherine Tilford, Deputy Associate Director, (202) 452-5240; Lesley
Chao, Lead Financial Institution Policy Analyst, Policy Development,
(202) 974-7063, Division of Supervision and Regulation; Charles Gray,
Deputy General Counsel, (202) 510-3484, Reena Sahni, Associate General
Counsel, (202) 452-2026, Jay Schwarz, Assistant General Counsel, (202)
452-2970, Andrew Hartlage, Senior Counsel, (202) 452-6483, Legal
Division, Board of Governors of the Federal Reserve System, 20th Street
and Constitution Avenue NW, Washington, DC 20551. For users of TTY-TRS,
please call 711 from any telephone, anywhere in the United States.
FDIC: Andrew J. Felton, Deputy Director, (202) 898-3691; Ryan P.
Tetrick, Deputy Director, (202) 898-7028; Jenny G. Traille, Associate
Director, (202) 898-3608; Julia E. Paris, Senior Cross-Border
Specialist, (202) 898-3821; Division of Complex Institution Supervision
and Resolution; R. Penfield Starke, Assistant General Counsel, (202)
898-8501, <a href="/cdn-cgi/l/email-protection#fc8e8f889d8e9799bc9a98959fd29b938a"><span class="__cf_email__" data-cfemail="3644454257445d537650525f5518515940">[email protected]</span></a>; David N. Wall, Assistant General Counsel,
(202) 898-6575, Legal Division, Federal Deposit Insurance Corporation,
550 17th Street NW, Washington, DC 20429.
SUPPLEMENTARY INFORMATION: On October 24, 2022, the agencies published
in the Federal Register an ANPR to solicit public input regarding
whether an extra layer of loss-absorbing capacity could improve
optionality in resolving a large banking organization or its insured
depository institution, and the costs and benefits of such a
requirement.\1\ This may, among other things, address financial
stability by limiting contagion risk through the reduction in the
likelihood of uninsured depositors suffering loss, and keep various
resolution options open for the FDIC to resolve a firm in a way that
minimizes the long term risk to financial stability and preserves
optionality. The agencies are seeking comment on all aspects of the
ANPR from all interested parties and also request commenters to
identify other issues that the Board and FDIC should consider.
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\1\ 87 FR 64170 (October 24, 2022).
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The ANPR stated that the comment period would close on December 23,
2022. The agencies have received a request to extend the comment
period. An extension of the comment period would provide additional
opportunity for the public to prepare comments to address questions
posed by the agencies. Therefore, the agencies are extending the end of
the comment period for the ANPR from December 23, 2022, to January 23,
2022.
By order of the Board of Governors of the Federal Reserve
System, acting through the Secretary of the Board under delegated
authority.
Ann E. Misback,
Secretary of the Board, Federal Deposit Insurance Corporation.
By order of the Board of Directors.
Dated at Washington, DC, on December 14, 2022.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2022-27475 Filed 12-16-22; 8:45 am]
BILLING CODE 6714-01-P; 6210-01-P
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