United States Government Publishing Office publisher pbl distributor dst United States National Archives and Records Administration Office of the Federal Register author aut Government Organization text government publication eng FR Regulatory Information 2017_register executive 2018-02-01 article Part II Rules and Regulations D09002ee1c7f2da23 D09002ee1c7f2db18 United States Federal Reserve System originator org United States Government Agency or Subagency The Board is adopting a final rule to require a U.S. top-tier bank holding company identified under the Board's rules as a global systemically important bank holding company (covered BHC) to maintain outstanding a minimum amount of loss-absorbing instruments, including a minimum amount of unsecured long-term debt. In addition, the final rule prescribes certain additional buffers, the breach of which would result in limitations on the capital distributions and discretionary bonus payments of a covered BHC. The final rule applies similar requirements to the top-tier U.S. intermediate holding company of a global systemically important foreign banking organization with $50 billion or more in U.S. non-branch assets (covered IHC). The final rule also imposes restrictions on other liabilities that a covered BHC or covered IHC may have outstanding in order to improve their resolvability and resiliency; these restrictions are referred to in the final rule as "clean holding company requirements." 82 FR 8266 https://www.govinfo.gov/app/details/FR-2017-01-24/2017-00431 2017-00431 fr24ja17-10 RIN 7100-AE37 6210-01-P Docket No. R-1523 https://www.govinfo.gov/app/details/FR-2017-01-24/2017-00431 https://www.govinfo.gov/content/pkg/FR-2017-01-24/html/2017-00431.htm https://www.govinfo.gov/content/pkg/FR-2017-01-24/pdf/2017-00431.pdf Administrative Practice and Procedure Banks Banking Federal Reserve System Holding Companies Reporting and Recordkeeping Requirements Securities 50 p. 8266 8315 82 FR 8266 Title 12 Part 252 12 CFR Part 252 RIN 7100-AE37 Total Loss-Absorbing Capacity, Long-Term Debt, and Clean Holding Company Requirements for Systemically Important U.S. Bank Holding Companies and Intermediate Holding Companies of Systemically Important Foreign Banking Organizations; Federal Register Vol. 82, Issue RULE 2017-00431 II FEDERAL RESERVE SYSTEM 2017-03-27 Docket No. R-1523 6210-01-P 2017-00431 Final rule.

The Board is adopting a final rule to require a U.S. top-tier bank holding company identified under the Board's rules as a global systemically important bank holding company (covered BHC) to maintain outstanding a minimum amount of loss-absorbing instruments, including a minimum amount of unsecured long-term debt. In addition, the final rule prescribes certain additional buffers, the breach of which would result in limitations on the capital distributions and discretionary bonus payments of a covered BHC. The final rule applies similar requirements to the top-tier U.S. intermediate holding company of a global systemically important foreign banking organization with $50 billion or more in U.S. non-branch assets (covered IHC). The final rule also imposes restrictions on other liabilities that a covered BHC or covered IHC may have outstanding in order to improve their resolvability and resiliency; these restrictions are referred to in the final rule as "clean holding company requirements."

The final rule is effective on March 27, 2017. Sean Campbell, Associate Director, 202 452-3760, Thomas Boemio, Senior Project Manager, (202) 452-2982, or Anna Harrington, Senior Supervisory Financial Analyst, (202) 452-6406, Division of Supervision and Regulation; or Laurie Schaffer, Associate General Counsel, (202) 452-2272, Benjamin McDonough, Special Counsel, (202) 452-2036, Jay Schwarz, Senior Counsel, (202) 452-2970, Will Giles, Senior Counsel, (202) 452-3351, Greg Frischmann, Counsel, (202) 452-2803, or Mark Buresh, Senior Attorney, (202) 452-5270, 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. Administrative Practice and Procedure Banks Banking Federal Reserve System Holding Companies Reporting and Recordkeeping Requirements Securities Total Loss-Absorbing Capacity, Long-Term Debt, and Clean Holding Company Requirements, etc. , http://www.bis.org/publ/bcbs173.pdf http://www.federalreserve.gov/newsevents/press/bcreg/20090507a.htm http://www.federalreserve.gov/newsevents/press/bcreg/bcreg20090507a1.pdf http://www.fsb.org/wp-content/uploads/TLAC-Principles-and-Term-Sheet-for-publication-final.pdf https://www.bis.org/bcbs/publ/d387.pdf https://www.sec.gov/investor/alerts/structurednotes.htm https://www2.isda.org/functional-areas/protocol-management/protocol/22 www.federalreserve.gov/aboutthefed/boardmeetings/gsib-methodology-paper-20150720.pdf Vol. 82, no. 14 Office of the Federal Register, National Archives and Records Administration 2017-01-24 continuing daily deposited born digital 231 p. Table of Contents: AE 2.7: GS 4.107: AE 2.106: KF70.A2 https://www.govinfo.gov/app/details/FR-2017-01-24 P0b002ee1982b958a 0097-6326 0042-1219 0364-1406 769-004-00000-9 000582072 f:fr24ja17 https://www.govinfo.gov/app/details/FR-2017-01-24 https://www.govinfo.gov/content/pkg/FR-2017-01-24/pdf/FR-2017-01-24.pdf https://www.govinfo.gov/content/pkg/FR-2017-01-24/xml/FR-2017-01-24.xml fdlp 8131 8352 DGPO 2018-02-01 2024-06-01 FR-2017-01-24 machine generated eng FR FR-2017-01-24 82 14