On November 22, pursuant to Section 165 of the Dodd-Frank Act, the Fed adopted a final rule amending Regulation Y to require bank holding companies with total consolidated assets of $50 billion or more to submit annual capital plans for review. The final rule also requires these banks to obtain approval from the Fed under certain circumstances before making a capital distribution. The final rule will be effective on December 30 and covered banks must submit their capital plans by January 9, 2012. Fed Release. Fed Final Rule.
Regulation Y
Fed Proposed Amendment to Reg Y
On June 10, pursuant to Section 165 of the Dodd-Frank Act, the Fed proposed to amend Regulation Y, requiring U.S. bank holding companies with total consolidated assets of $50 billion or more to submit capital plans on an annual basis and to provide prior notice under certain circumstances before making a capital distribution. Comments must be submitted by August 5. Fed Release. Proposed Amendment.