section 622 of the Dodd-Frank Act

Federal Reserve Releases First Determination of Aggregate Consolidated Liabilities of all Financial Companies

On July 1, the Federal Reserve Board released its first determination of the aggregate consolidated liabilities of all financial companies in accordance with section 622 of the Dodd-Frank Act, which prohibits any financial company from combining with another company if the resulting company’s liabilities exceed 10 percent of the aggregate consolidated liabilities of all financial companies.  Release.