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Single-Counterparty Credit Limits for Bank Holding Companies and Foreign Banking Organizations

Fed · final-rule · Published 2020-05-28 · Effective 2020-05-28 · 85 FR 31949

Document

Document number
2020-09665
Federal Register citation
85 FR 31949
CFR reference
12 CFR 252
Type
Rule
Action
Final rule to extend compliance dates.
Category
final-rule
Agency
US Federal Reserve System
Publication date
2020-05-28
Effective date
2020-05-28
Docket
Regulation YY

Abstract

The Board is adopting a final rule to amend the compliance dates related to Single-Counterparty Credit Limits for Bank Holding Companies and Foreign Banking Organizations (final SCCL rule). The final rule revises the final SCCL rule to modify the initial compliance dates of January 1, 2020, for a foreign banking organization that has the characteristics of a global systemically important banking organization, and July 1, 2020, for any other foreign banking organization subject to the final SCCL rule to July 1, 2021, and January 1, 2022, respectively, regarding the SCCL applicable to a foreign banking organization's combined U.S. operations only.

Source

Authoritative
Federal Register document
Machine
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