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FRS | RIN: 7100-AG11 | Publication ID: Fall 2022 |
Title: Amendment to the Capital Rule to Facilitate the Emergency Capital Investment Program (Docket No: R-1741) | |
Abstract:
In order to support and facilitate the timely implementation and acceptance of the Congressionally authorized Emergency Capital Investment Program (ECIP) for the Department of the Treasury to make capital investments in low- and moderate-income community financial institutions, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and Federal Deposit Insurance Corporation (together, the Agencies) are issuing an interim final rule that provides that preferred stock issued under ECIP qualifies as additional tier 1 capital and that subordinated debt issued under ECIP qualifies as tier 2 capital under the Agencies' capital rule. |
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Agency: Federal Reserve System(FRS) | Priority: Substantive, Nonsignificant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Long-Term Actions |
Major: No | Unfunded Mandates: No |
CFR Citation: 12 CFR 217 | |
Legal Authority: 5 U.S.C. 553 5 U.S.C. 801 |
Legal Deadline:
None |
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Timetable:
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Regulatory Flexibility Analysis Required: No | Government Levels Affected: None |
Small Entities Affected: No | Federalism: No |
Included in the Regulatory Plan: No | |
RIN Data Printed in the FR: No | |
Agency Contact: Mark Buresh Special Counsel Federal Reserve System Legal Division, Washington, DC 20551 Phone:202 452-5270 Mary Watkins Senior Counsel Federal Reserve System Legal Division, Washington, DC 20551 Phone:202 452-3722 Naima Jefferson Lead Financial Institution Policy Analyst Federal Reserve System Division of Supervision and Regulation, Washington, DC 20551 Phone:202 912-4613 David Alexander Special Counsel Federal Reserve System Legal Division, Washington, DC 20551 Phone:202 452-2877 David Imhoff Attorney Federal Reserve System Legal Division, Washington, DC 20551 Phone:202 452-2249 |