What’s New

On December 5, 2024, the Board, the Consumer Financial Protection Bureau, the Federal Deposit Insurance Corporation, the Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN), the National Credit Union Administration, the Office of the Comptroller of the Currency, and state financial regulators issued an Interagency Statement on Elder Financial Exploitation for the purpose of raising awareness and providing strategies for combatting elder financial exploitation. More... Banks, credit unions, and other supervised institutions play an important role in combatting elder financial exploitation and supporting their customers who experience these crimes. The statement provides examples of risk management and other practices that supervised institutions may use to help identify, prevent, and respond to elder financial exploitation (Guidance, Risk Management at 3-1579.24).

The Board is inviting public comment on a notice of proposed rulemaking that would amend the calculation of the Board’s stress capital buffer requirement applicable to certain large bank holding companies, savings and loan holding companies, U.S. intermediate holding companies of foreign banking organizations, and nonbank financial companies supervised by the Board to reduce the volatility of the stress capital buffer requirement. More... The proposal would use the average of the maximum common equity tier 1 capital declines projected in each of the Board’s prior two annual supervisory stress tests to inform a firm’s stress capital buffer requirement. The proposal would also extend the annual effective date of the stress capital buffer requirement by one quarter, to January 1, to provide additional time for firms to comply with the requirement. In addition, the proposal would make changes to the FR Y-14A/Q/M reports to collect additional net income data that would improve the accuracy of the stress capital buffer requirement calculation, as well as remove data items that are no longer needed to conduct the supervisory stress test. The changes in the proposal are not designed to materially affect overall capital requirements and would decrease regulatory reporting burden. Comments on this notice of proposed rulemaking must be received by June 23, 2025 (Docket R-1866).