Agencies updated a FAQ document to clarify the capital treatment of certain Collateralized Debt Obligations.

Federal banking agencies provided information and guidance on the use of the two-quarter grace period under the optional community bank leverage ratio framework once temporary relief measures expire on December 31, 2021.

The Federal Reserve Board, FDIC and OCC said they will continue to work towards aligning capital requirements for banks with the final set of "Basel III" standards.

Legislators questioned prudential regulators on (i) diversity in banking, (ii) the regulatory response to the COVID-19 pandemic, and (iii) the changing regulatory landscape due to climate change, cybersecurity, and digitization.