The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
Advanced Search About the Fed News & Events Monetary Policy Supervision & Regulation Payment Systems Economic Research Data Consumers & Communities Board of Governors of the Federal Reserve System The Federal Reserve, the central bank of the United States, provides the nation with a safe, flexible, and stable monetary and financial system. Home > News & Events > Press Releases Press Release May 08, 2014 Federal Reserve Board invites comment on proposed rulemaking implementing section 622 of the Dodd-Frank Act For immediate release Share The Federal Reserve Board on Thursday invited comment on a proposed rulemaking that would implement section 622 of the DoddFrank Act, which prohibits a financial company from combining with another company if the ratio of the resulting financial company's liabilities exceeds 10 percent of the aggregate consolidated liabilities of all financial companies. Financial companies subject to the concentration limit would include insured depository institutions, bank holding companies, savings and loan holding companies, foreign banking organizations, companies that control insured depository institutions, and nonbank financial companies designated by the Financial Stability Oversight Council (FSOC) for Board supervision. Consistent with section 622, the proposal generally defines liabilities of a financial institution as the difference between its risk-weighted assets, as adjusted to reflect exposures deducted from regulatory capital, and its total regulatory capital. Firms not subject to consolidated risk-based capital rules would measure liabilities using generally accepted accounting standards. The proposal would also provide that the Board would measure and disclose the aggregate liabilities of financial companies annually, and would calculate aggregate liabilities as a twoyear average. The proposal reflects recommendations made by the FSOC. Comments on the proposal should be submitted by July 8, 2014. For media inquiries, call 202-452-2955. Federal Register notice: HTML | PDF Comments on this proposal: Submit | View Last Update: May 08, 2014 BOARD OF GOVERNORS of the FEDERAL RESERVE SYSTEM About the Fed News & Events Monetary Policy Supervision & Regulation Payment Systems Economic Research Data Consumers & Communities Financial Stability TOOLS AND INFORMATION STAY CONNECTED Contact Publications Freedom of Information (FOIA) Office of Inspector General Budget & Performance | Audit No FEAR Act Español Website Policies | Privacy Program Accessibility BOARD OF GOVERNORS of the FEDERAL RESERVE SYSTEM 20th Street and Constitution Avenue N.W., Washington, DC 20551