The OCC, FRB and FDIC requested comment on a set of rules as part of a process to identify "outdated" or "unnecessary" regulatory requirements on insured depository institutions and their holding companies.
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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.
A Federal Reserve Board policy that states that the Board will exercise its discretion under the Federal Reserve Act to limit state member banks to engaging as principal in only those activities that are permissible for national banks became effective on February 7, 2023.
In a policy statement, the Federal Reserve Board said that it will exercise its discretion under the Federal Reserve Act Section to limit state member banks to engaging as principal in only those activities that are permissible for national banks.
The Federal Reserve Board delayed the effective date of its final rule revising the control framework under the Bank Holding Company Act and the Home Owners' Loan Act.