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.
Section 165
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.