On August 22, the Fed proposed: (i) a two-year phase-in period for most savings and loan holding companies to file Fed regulatory reports and (ii) an exemption for certain SLHCs from filing initial Fed regulatory reports. Comments on the proposal must be submitted by November 1. Fed Release. Request For Comment.
savings and loan holding companies
Fed Interim Final Rule on Regulations for SLHCs
On August 12, the Fed issued an interim final rule establishing regulations for savings and loan holding companies (SLHCs) in connection with the transfer of supervision and regulation of SLHCs from the OTS to the Fed pursuant to Section 312 of the Dodd-Frank Act. The interim final rule will be effective upon publication in the Federal Register. Comments must be submitted by October 27. Fed Release. Interim Final Rule.
Fed Notice on Supervisory Guidance of Savings and Loan Holding Companies
On April 15, the Fed released a notice outlining its intention to apply certain elements of its consolidated supervisory program to savings and loan holding companies which will fall under the supervisory responsibility of the Fed in July pursuant to the Dodd-Frank Act. The guidelines are currently applied to bank holding companies. In the notice, the Fed indicates that the three elements of the current program that are critical to effective evaluation of the consolidated condition of holding companies are: (i) the consolidated supervision program for large and regional holding companies; (ii) the supervisory program for small, noncomplex holding companies; and (iii) the holding company rating system. Comments must be submitted by May 23. Fed Release. Fed Notice of Intent.