The OCC, FRB and FDIC requested comment on a set of rules as part of a process to identify "outdated" or "unnecessary" regulatory requirements on insured depository institutions and their holding companies.
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Acting Comptroller of the Currency Michael J. Hsu argued that careful consideration should be given to any regulatory enhancements to help ensure that "updated liquidity risk management practices are implemented and sustained systematically and consistently, especially across midsize and large banks."
The OCC, the Federal Reserve Board and the FDIC extended the comment deadline on a proposed rule on long-term debt requirements. The comment period was extended to January 16, 2024.
The Federal Reserve Board and the FDIC proposed guidance for certain domestic and foreign institutions to clarify expectations on the development of orderly resolution plans under the U.S. Bankruptcy Code.
The OCC, the Federal Reserve Board and the FDIC proposed long-term debt requirements for large banking entities, holding companies, foreign banking organizations and large insured depository institutions to facilitate resolvability in the event of failure and to reduce the risk of contagion within the financial system.