June 2025Transmittal 532
Effective: 6/1/2025
Banks and Banking
Policy Statements
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.
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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).Proposed Rules
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.
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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).