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FRS | RIN: 7100-AF49 | Publication ID: Fall 2019 |
Title: ●Regulations Y and LL -- Control and Divestiture Proceedings (Docket No: R-1662) | |
Abstract:
The Board of Governors of the Federal Reserve System (Board) invited public comment on a proposal that would revise the Board's regulations related to determinations of whether a company has the ability to exercise a controlling influence over another company for purposes of the Bank Holding Company Act or the Home Owners' Loan Act. The proposal would significantly expand the number of presumptions for use in such determinations. By codifying the presumptions in the Board's Regulation Y and Regulation LL, the Board's rules would provide substantial additional transparency on the types of relationships that the Board would view as supporting a determination that one company controls another company. The proposed presumptions generally would be consistent with the Board's historical practice with respect to the types of relationships that raise, or do not raise, significant controlling influence concerns. Several of the proposed presumptions, however, would represent targeted adjustments relative to the Board's historical practice. Finally, the proposal includes various definitions and ancillary rules to ensure that the application of the proposed presumptions is clear, transparent, and consistent.
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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 225 12 CFR 238 | |
Legal Authority: 12 U.S.C. 1841 12 U.S.C. 1461 12 U.S.C. 1467 |
Legal Deadline:
None |
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Timetable:
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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: Laurie Schaffer Deputy General Counsel Federal Reserve System Legal Division, Washington, DC 20551 Phone:202 452-2272 Alison Thro Deputy Associate General Counsel Federal Reserve System Legal Division, Washington, DC 20551 Phone:202 452-3236 Greg Frischmann Special Counsel Federal Reserve System Legal Division, Washington, DC 20551 Phone:202 452-2803 Mark Buresh Special Counsel Federal Reserve System Legal Division, Washington, DC 20551 Phone:202 452-5270 Melissa Clark Lead Financial Institution Policy Analyst Federal Reserve System Division of Supervision and Regulation, Washington, DC 20551 Phone:202 452-2277 |