Effective Date Set for FDIC Issuance of Joint Rulemaking on Role of Supervisory Guidance

The effective date for the FDIC's issuance of a joint rulemaking that codifies a 2018 Interagency Statement Clarifying the Role of Supervisory Guidance was set for April 1, 2021.

The joint final rule was adopted in conjunction with the OCC, Federal Reserve Board, National Credit Union Administration ("NCUA") and CFPB. The NCUA, OCC and CFPB final rules have already been published in the Federal Register with effective dates set for March 1, 2021 for the NCUA and March 15, 2021 for the OCC and CFPB. The FRB has yet to publish its respective rule release in the Federal Register.