[Federal Register Volume 84, Number 237 (Tuesday, December 10, 2019)]
[Proposed Rules]
[Page 67381]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-26475]


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 Proposed Rules
                                                 Federal Register
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 This section of the FEDERAL REGISTER contains notices to the public of 
 the proposed issuance of rules and regulations. The purpose of these 
 notices is to give interested persons an opportunity to participate in 
 the rule making prior to the adoption of the final rules.
 
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  Federal Register / Vol. 84, No. 237 / Tuesday, December 10, 2019 / 
Proposed Rules  

[[Page 67381]]



FEDERAL RESERVE SYSTEM

12 CFR Part 217 and 252

[Docket No. R-1673]
RIN 7100-AF 56


Regulatory Capital Rules: Risk-Based Capital Requirements for 
Depository Institution Holding Companies Significantly Engaged in 
Insurance Activities; Extension of Comment Period

AGENCY: Board of Governors of the Federal Reserve System.

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

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SUMMARY: On October 24, 2019, the Board of Governors of the Federal 
Reserve System (Board), published in the Federal Register a proposal to 
establish risk-based capital requirements for depository institution 
holding companies that are significantly engaged in insurance 
activities. The Board has determined that an extension of the comment 
period until January 22, 2020, is appropriate.

DATES: For the notice of proposed rulemaking published on October 24, 
2019 (84 FR 57240), comments must be received by January 22, 2020.

ADDRESSES: You may submit comments by any of the methods identified in 
the proposal.

FOR FURTHER INFORMATION CONTACT: Thomas Sullivan, Associate Director, 
(202) 475-7656; Linda Duzick, Manager, (202) 728-5881; Matti Peltonen, 
Supervisory Insurance Valuation Analyst, (202) 872-7587; Brad Roberts, 
Supervisory Insurance Valuation Analyst, (202) 452-2204; or Matthew 
Walker, Supervisory Insurance Valuation Analyst, (202) 872-4971; 
Division of Supervision and Regulation; or Laurie Schaffer, Associate 
General Counsel, (202) 452-2272; David Alexander, Senior Counsel, (202) 
452-2877; Andrew Hartlage, Counsel, (202) 452-6483; or Jonah Kind, 
Senior Attorney, (202) 452-2045; Legal Division, Board of Governors of 
the Federal Reserve System, 20th and C Streets NW, Washington, DC 
20551. For the hearing impaired only, Telecommunication Device for the 
Deaf, (202) 263-4869.

SUPPLEMENTARY INFORMATION: On October 24, 2019, the Board published in 
the Federal Register a proposal to establish risk-based capital 
requirements for depository institution holding companies that are 
significantly engaged in insurance activities.\1\ The Board is 
proposing a risk-based capital framework, termed the Building Block 
Approach, that adjusts and aggregates existing legal entity capital 
requirements to determine an enterprise-wide capital requirement, 
together with a risk-based capital requirement excluding insurance 
activities, in compliance with section 171 of the Dodd-Frank Act. The 
Board is additionally proposing to apply a buffer to limit an insurance 
depository institution holding company's capital distributions and 
discretionary bonus payments if it does not hold sufficient capital 
relative to enterprise-wide risk, including risk from insurance 
activities. The proposal would also revise reporting requirements for 
depository institution holding companies significantly engaged in 
insurance activities. The notice of proposed rulemaking stated that the 
comment period would close on December 23, 2019. The Board subsequently 
received requests to extend the comment period. An extension of the 
comment period will provide additional opportunity for the public to 
consider the proposal and prepare comments, including to address the 
questions posed by the Board in the proposal. Therefore, the Board is 
extending the end of the comment period for the proposal from December 
23, 2019, to January 22, 2020.
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    \1\ 84 FR 57240 (October 24, 2019).

    By order of the Board of Governors of the Federal Reserve 
System, acting through the Secretary of the Board under delegated 
authority, December 4, 2019.
Ann Misback,
Secretary of the Board.
[FR Doc. 2019-26475 Filed 12-9-19; 8:45 am]
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