FRB Requests Comment on Proposed Revisions to Regulation HH

The Board of Governors of the Federal Reserve System ("FRB") requested comment on proposed revisions to the Part 234 or Regulation HH ("Designated Financial Market Utilities") risk-management standards for certain financial market utilities that have been designated as systemically important by the Financial Stability Oversight Council ("FSOC"), including those for which the FRB is the supervisory agency pursuant to Dodd-Frank Title VIII.

The FRB also requested comment on related revisions to Part I of the Federal Reserve Policy on Payment System Risk, which is applicable to financial market infrastructures ("FMIs") more generally, including those operated by the Federal Reserve Banks.

Comments on both proposals must be submitted by March 31, 2014.

See: FRB Request for Comment. Related news: FRB Issues Final Regulation HH Rule on Financial Market Utilities (December 5, 2013); Federal Reserve Board Notice of Proposed Rulemaking on Financial Market Utilities (Regulation HH) (Fed. Reg. Version) (March 4, 2013).