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.
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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.
In a speech before the National Association of Insurance Commissioners, Federal Reserve Board Vice Chair of Supervision Randal Quarles reported that the FRB will publish soon a capital rule for insurance depository institution holding companies.
A Federal Reserve Board proposal to establish capital requirements for certain supervised insurance companies was published in the Federal Register.
A Federal Reserve Board proposal to establish capital requirements for certain supervised insurance companies was published in the Federal Register.