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.
In a semiannual review of its regulatory policy initiatives, the Federal Reserve Board said that it was taking steps "to enhance the speed, force, and agility of its supervision to reflect lessons learned from the recent U.S. bank failures and its supervision of Silicon Valley Bank."
Federal Reserve Board Governor Michelle W. Bowman criticized several recent banking proposals, calling on regulators to “appropriately calibrate and prioritize their supervisory and regulatory actions.”
Federal Reserve Board Governor Michelle W. Bowman criticized proposed new capital requirements for banks with more than $100 billion in assets, arguing that the increases were not supported by facts and analysis and could lead to reduced credit availability and increased cost of credit.
The Federal Reserve Board, the OCC and the FDIC extended until January 16, 2024 the comment deadline on proposed amendments that would substantially revise capital requirements for large banking organizations.