Fed proposes to expand the applicability of Small Bank Holding Company Policy Statement

This story appeared in Bank Digest.

The Federal Reserve Board has invited public comment on a proposed rule to expand the applicability of the Board's Small Bank Holding Company Policy Statement for small bank holding companies as well as certain savings and loan holding companies. Additionally, the Fed announced reduced reporting requirements for certain bank holding companies and savings and loan holding companies.

The Fed also adopted an interim final rule to exclude from the Board's regulatory capital requirements savings and loan holding companies with less than $500 million in total consolidated assets that meet the qualitative requirements in the Policy Statement. Bank holding companies with less than $500 million in total consolidated assets that meet the qualitative requirements in the Policy Statement are already excluded from the Board's regulatory capital requirements.

The proposed rule and interim final rule would implement a law passed by Congress in December 2014. Comments on the proposal and interim final rule will be accepted through March 4, 2015.