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FRS RIN: 7100-AF43 Publication ID: Fall 2019 
Title: ●Regulation Q--Regulatory Capital Treatment for Investments in Certain Unsecured Debt Instruments of Global Systemically Important U.S. Bank Holding Companies (Docket No: R-1655) 
Abstract:

The Office of the Comptroller of the Currency, Treasury (OCC); the Board of Governors of the Federal Reserve System (Board); and the Federal Deposit Insurance Corporation (FDIC) (collectively, the Agencies) are inviting public comment on a notice of proposed rulemaking (proposal) that would address an advanced approaches banking organization's regulatory capital treatment of an investment in unsecured debt instruments issued by foreign or U.S. global systemically important banking organizations (GSIBs) for the purposes of meeting minimum total loss absorbing capacity (TLAC) and, where applicable, long-term debt (LTD) requirements, or unsecured debt instruments issued by GSIBs that are pari passu or subordinated to such debt instruments. Under the proposal, investments by an advanced approaches banking organization in such unsecured debt instruments generally would be subject to deduction from the advanced approaches banking organization's own regulatory capital. The proposal would reduce both interconnectedness within the financial system and systemic risk. The Board is proposing changes to regulatory reporting requirements resulting from the proposal. The Board is also proposing to require that banking organizations subject to minimum TLAC and LTD requirements under Board regulations publicly disclose their TLAC and LTD issuances in a manner described in this proposal.

 
Agency: Federal Reserve System(FRS)  Priority: Substantive, Nonsignificant 
RIN Status: First time published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: No  Unfunded Mandates: No 
EO 13771 Designation: Independent agency 
CFR Citation: 12 CFR 217   
Legal Authority: 12 U.S.C. 1844    5 U.S.C 552   
Legal Deadline:  None
Timetable:
Action Date FR Cite
Board Requested Comments  04/08/2019  84 FR 13814   
Board Expects Further Action  12/00/2019 
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Constance Horsley
Deputy Associate Director
Federal Reserve System
Division of Supervision and Regulation,
Washington, DC 20551
Phone:202 452-5239

Juan Climent
Manager
Federal Reserve System
Division of Supervision and Regulation,
Washington, DC 20551
Phone:202 872-7526

Mark Buresh
Senior Counsel
Federal Reserve System
Legal Division,
Washington, DC 20551
Phone:202 452-5270

Benjamin McDonough
Assistant General Counsel
Federal Reserve System
Legal Division,
Washington, DC 20551
Phone:202 452-2036