[Federal Register Volume 82, Number 225 (Friday, November 24, 2017)]
[Proposed Rules]
[Page 55791]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-25371]


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FEDERAL RESERVE SYSTEM

12 CFR Parts 211 and 238

[Docket No. R-1569]
RIN 7100-AE82


Large Financial Institution Rating System; Regulations K and LL

AGENCY: Board of Governors of the Federal Reserve System (Board).

ACTION: Notice of proposed rulemaking; extension of comment period.

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SUMMARY: On August 17, 2017, the Board published in the Federal 
Register a proposed new rating system for its supervision of large 
financial institutions. To facilitate effective public comment on the 
proposal, the Board previously extended the comment period from October 
16, 2017, to November 30, 2017. The Board has determined that a further 
extension of the comment period until February 15, 2018, is 
appropriate. This action will allow interested persons additional time 
to analyze the proposal and prepare their comments.

DATES: Comments on the proposed rule published August 17, 2017, 82 FR 
39049, are extended and must be received on or before February 15, 
2018.

ADDRESSES: You may submit comments by any of the methods identified in 
the proposal. Please submit your comments using only one method.

FOR FURTHER INFORMATION CONTACT: Richard Naylor, Associate Director, 
(202) 728-5854, Vaishali Sack, Manager, (202) 452-5221, April Snyder, 
Manager, (202) 452-3099, Bill Charwat, Senior Project Manager, (202) 
452-3006, Division of Supervision and Regulation, Scott Tkacz, Senior 
Counsel, (202) 452-2744, or Christopher Callanan, Senior Attorney, 
(202) 452-3594, Legal Division, Board of Governors of the Federal 
Reserve System, 20th and C Streets NW., Washington, DC 20551. For the 
hearing impaired only, Telecommunications Device for the Deaf (TDD) 
users may contact (202) 263-4869.

SUPPLEMENTARY INFORMATION: On August 17, 2017, the Board published in 
the Federal Register a proposed new rating system for its supervision 
of large financial institutions.\1\ The proposed ``Large Financial 
Institution Rating System'' is closely aligned with the Federal 
Reserve's new supervisory program for large financial institutions. The 
proposed rating system would apply to all bank holding companies with 
total consolidated assets of $50 billion or more; all non-insurance, 
non-commercial savings and loan holding companies with total 
consolidated assets of $50 billion or more; and U.S. intermediate 
holding companies of foreign banking organizations established pursuant 
to the Federal Reserve's Regulation YY. The proposed rating system 
includes a new rating scale under which component ratings would be 
assigned for capital planning and positions, liquidity risk management 
and positions, and governance and controls. The Federal Reserve 
proposes to assign initial ratings under the new rating system during 
2018. The Federal Reserve is also seeking comment on proposed revisions 
to existing provisions in Regulations K and LL so they would remain 
consistent with certain features of the proposed rating system.
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    \1\ See ``Large Financial Institution Rating System; Regulations 
K and LL,'' 82 FR 39049 (August 17, 2017).
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    The proposal stated that the public comment period would close on 
October 16, 2017, which the Board previously extended to November 30, 
2017.\2\
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    \2\ See ``Large Financial Institution Rating System; Regulations 
K and LL,'' 82 FR 47164 (October 11, 2017).
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    An additional extension of the comment period will provide an 
opportunity for the public to comment on the ratings framework and 
related supervisory expectations as a whole. Therefore, the Board is 
extending the end of the comment period for the proposal from November 
30, 2017, to February 15, 2018.

    By order of the Board of Governors of the Federal Reserve 
System, acting through the Secretary of the Board under delegated 
authority, November 17, 2017.
Ann E. Misback,
Secretary of the Board.
[FR Doc. 2017-25371 Filed 11-22-17; 8:45 am]
BILLING CODE 6210-01-P