Notice of proposed rulemaking that would modify the start date of the capital plan and stress test cycles from October 1 of the calendar year to January 1 of the following calendar year, with corresponding changes to the submission deadlines for capital plans and company-run stress test results; modify the capital plan rule to limit a bank holding company's ability to make capital distributions to the extent that the bank holding company's actual capital issuances are less than the planned amount indicated in its capital plan under baseline conditions, measured on a quarterly basis; and modify application of the capital plan rule to a bank holding company that is a subsidiary of a U.S. intermediate holding company of a foreign banking organization. The proposed rule also would revise the Board's Policy Statement on the Scenario Design Framework for Stress Testing and the Board's Regulation YY to reflect the revisions to the start date of the stress test cycle.