Regulatory Capital Rules: Risk-Based Capital Requirements for Depository Institution Holding Companies Significantly Engaged in Insurance Activities; Extension of Comment Period

 
CONTENT
Federal Register, Volume 84 Issue 237 (Tuesday, December 10, 2019)
[Federal Register Volume 84, Number 237 (Tuesday, December 10, 2019)]
[Proposed Rules]
[Page 67381]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-26475]
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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. 84, No. 237 / Tuesday, December 10, 2019 /
Proposed Rules
[[Page 67381]]
FEDERAL RESERVE SYSTEM
12 CFR Part 217 and 252
[Docket No. R-1673]
RIN 7100-AF 56
Regulatory Capital Rules: Risk-Based Capital Requirements for
Depository Institution Holding Companies Significantly Engaged in
Insurance Activities; Extension of Comment Period
AGENCY: Board of Governors of the Federal Reserve System.
ACTION: Notice of proposed rulemaking; extension of comment period.
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SUMMARY: On October 24, 2019, the Board of Governors of the Federal
Reserve System (Board), published in the Federal Register a proposal to
establish risk-based capital requirements for depository institution
holding companies that are significantly engaged in insurance
activities. The Board has determined that an extension of the comment
period until January 22, 2020, is appropriate.
DATES: For the notice of proposed rulemaking published on October 24,
2019 (84 FR 57240), comments must be received by January 22, 2020.
ADDRESSES: You may submit comments by any of the methods identified in
the proposal.
FOR FURTHER INFORMATION CONTACT: Thomas Sullivan, Associate Director,
(202) 475-7656; Linda Duzick, Manager, (202) 728-5881; Matti Peltonen,
Supervisory Insurance Valuation Analyst, (202) 872-7587; Brad Roberts,
Supervisory Insurance Valuation Analyst, (202) 452-2204; or Matthew
Walker, Supervisory Insurance Valuation Analyst, (202) 872-4971;
Division of Supervision and Regulation; or Laurie Schaffer, Associate
General Counsel, (202) 452-2272; David Alexander, Senior Counsel, (202)
452-2877; Andrew Hartlage, Counsel, (202) 452-6483; or Jonah Kind,
Senior Attorney, (202) 452-2045; Legal Division, Board of Governors of
the Federal Reserve System, 20th and C Streets NW, Washington, DC
20551. For the hearing impaired only, Telecommunication Device for the
Deaf, (202) 263-4869.
SUPPLEMENTARY INFORMATION: On October 24, 2019, the Board published in
the Federal Register a proposal to establish risk-based capital
requirements for depository institution holding companies that are
significantly engaged in insurance activities.\1\ The Board is
proposing a risk-based capital framework, termed the Building Block
Approach, that adjusts and aggregates existing legal entity capital
requirements to determine an enterprise-wide capital requirement,
together with a risk-based capital requirement excluding insurance
activities, in compliance with section 171 of the Dodd-Frank Act. The
Board is additionally proposing to apply a buffer to limit an insurance
depository institution holding company's capital distributions and
discretionary bonus payments if it does not hold sufficient capital
relative to enterprise-wide risk, including risk from insurance
activities. The proposal would also revise reporting requirements for
depository institution holding companies significantly engaged in
insurance activities. The notice of proposed rulemaking stated that the
comment period would close on December 23, 2019. The Board subsequently
received requests to extend the comment period. An extension of the
comment period will provide additional opportunity for the public to
consider the proposal and prepare comments, including to address the
questions posed by the Board in the proposal. Therefore, the Board is
extending the end of the comment period for the proposal from December
23, 2019, to January 22, 2020.
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    \1\ 84 FR 57240 (October 24, 2019).
    By order of the Board of Governors of the Federal Reserve
System, acting through the Secretary of the Board under delegated
authority, December 4, 2019.
Ann Misback,
Secretary of the Board.
[FR Doc. 2019-26475 Filed 12-9-19; 8:45 am]
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