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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.

 

 

 
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
Timetable:
Action Date FR Cite
Board Requested Comments  05/14/2019  84 FR 21634   
Board Expects Further Action  11/00/2019 
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:
Laurie Schaffer
Associate General Counsel
Federal Reserve System
Legal Division,
Washington, DC 20551
Phone:202 452-2272

Alison Thro
Assistant General Counsel
Federal Reserve System
Legal Division,
Washington, DC 20551
Phone:202 452-3236
Email: alison.thro@frb.gov

Greg Frischmann
Senior Counsel
Federal Reserve System
Legal Division,
Washington, DC 20551
Phone:202 452-2803

Mark Buresh
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