The Board of Governors of the Federal Reserve System ("FRB") extended to November 30, 2017 the comment deadline for two related proposals: (i) one that would change the ratings system under Reg. YY for large financial institutions so that it aligns with current supervisory practice and (ii) one to issue supervisory guidance for boards of directors under the new ratings system (see previous coverage for details of the proposals).
Comments on the ratings system proposal originally were due by October 16, 2017; comments on the board of directors proposal originally were due by October 10, 2017.
The Board of Governors of the Federal Reserve System requested public comment on two related proposals, including (i) a change in the rating system for large financial institutions, and (ii) the issuance of supervisory guidance for boards of directors under the new ratings system.
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