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TREAS/OCC RIN: 1557-AD35 Publication ID: Spring 2011 
Title: Regarding Alternatives to the Use of External Credit Ratings in the Regulatory Capital Guidelines of the Federal Banking Agencies 
Abstract: Section 939A of the Dodd-Frank Wall Street Reform and Consumer Protection Act requires agencies to review their regulations that require the use of an assessment of credit-worthiness of a security or money market instrument and make reference to, or have requirements regarding, credit ratings. The agencies must modify their regulations to remove any reference to, or requirements of reliance on, credit ratings in such regulations and substitute in their place other standards of credit-worthiness that the agencies determine to be appropriate for such regulations. The Federal banking agencies are issuing an advance notice of proposed rulemaking describing the areas in their risk-based capital standards, as well as changes to those standards proposed by the Basel Committee on Banking Supervision, that make reference to credit ratings and requesting comment on potential alternatives to the use of credit ratings. 
Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: Undetermined  Unfunded Mandates: Undetermined 
CFR Citation: 12 CFR 3   
Legal Authority: 12 USC 93a    12 USC 161    12 USC 1818    12 USC 1828(n)    12 USC 1828 note    12 USC 1831n note    12 USC 1835    12 USC 3907    12 USC 3909   
Legal Deadline:
Action Source Description Date
Final  Statutory  Final Rule  07/21/2011 

Overall Description of Deadline: July 21, 2011.

Timetable:
Action Date FR Cite
ANPRM  08/25/2010  75 FR 52283   
ANPRM Comment Period End  10/25/2010    
NPRM  07/00/2011    
Regulatory Flexibility Analysis Required: Undetermined  Government Levels Affected: Undetermined 
Federalism: Undetermined 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Carl Kaminski
Assistant Director
Department of the Treasury
Comptroller of the Currency
Chief Counsel's Office, 400 7th Street SW,
Washington, DC 20219
Phone:202 649-5869
Email: carl.kaminski@occ.treas.gov