Comments on a joint FRB and FDIC Advance Notice of Proposed Rulemaking soliciting feedback on whether the agencies should strengthen large bank resolution standards are due by December 23, 2022.
The Federal Reserve Board and the FDIC solicited feedback on "whether an extra layer of loss-absorbing capacity could improve optionality in resolving a large banking organization or its insured depository institution, and the costs and benefits of such a requirement."
The effective date for the Federal Reserve Board's new framework for the supervision of insurance activities engaged in by depository institution holding companies will be November 3, 2022.
Federal Reserve Board Governor Michelle W. Bowman outlined her perspective on supervision and regulation of the banking industry and highlighted the costs of over-regulation.
The Federal Reserve Board adopted a final framework for the supervision of any depository institution holding company that (i) is an insurance underwriting company or (ii) has over 25 percent of its consolidated assets held by insurance underwriting subsidiaries.