(a) No transitions
for certain Board-regulated institutions. A Board-regulated institution
that is subject to the minimum liquidity standards and other requirements
of this part immediately prior to December 31, 2019 must comply with
the requirements of this part as of December 31, 2019.
(b) Transitions for certain U.S. intermediate holding
companies. A U.S. intermediate holding company that initially
becomes subject to this part on December 31, 2019 does not need to
comply with the minimum liquidity standard of section 249.10 or with
the public disclosure requirements of section 249.90 until December
31, 2020, at which time the U.S. intermediate holding company must
comply with the minimum liquidity standard of section 249.10 each
business day (or, in the case of a Category IV Board-regulated institution,
on the last business day of the applicable calendar month) in accordance
with this part, and with the public disclosure requirements of section
249.90.
(c) Initial application.
(1) A Board-regulated
institution that initially becomes subject to the minimum liquidity
standard and other requirements of this part under section 249.1(b)(1)(i)
or (ii) after December 31, 2019, must comply with the requirements
of this part beginning on the first day of the third calendar quarter
after which the Board-regulated institution becomes subject to this
part, except that a Board-regulated institution that is not a Category
IV Board-regulated institution must:
(i) For the first two calendar quarters
after the Board-regulated institution begins complying with the minimum
liquidity standard and other requirements of this part, calculate
and maintain a liquidity coverage ratio monthly, on each calculation
date that is the last business day of the applicable calendar month;
and
(ii) Beginning the first
day of the fifth calendar quarter after the Board-regulated institution
becomes subject to the minimum liquidity standard and other requirements
of this part and continuing thereafter, calculate and maintain a liquidity
coverage ratio on each calculation date.
(2) A Board-regulated institution that
becomes subject to the minimum liquidity standard and other requirements
of this part under section 249.1(b)(1)(iii) must comply with the requirements
of this part subject to a transition period specified by the Board.
(d) Transition into a different
outflow adjustment percentage.
(1) A Board-regulated institution whose
outflow adjustment percentage changes is subject to transition periods
as set forth in section 249.30(d).
(2) A Board-regulated institution that is no longer subject to the
minimum liquidity standard and other requirements of this part pursuant
to section 249.1(b)(1)(i) or (ii) based on the size of total consolidated
assets, cross-jurisdictional activity, total nonbank assets, weighted
short-term wholesale funding, or off-balance sheet exposure calculated
in accordance with the Call Report, instructions to the FR Y-9LP or
the FR Y-15 or equivalent reporting form, as applicable, for each
of the four most recent calendar quarters may cease compliance with
this part as of the first day of the first quarter after it is no
longer subject to section 249.1(b).
(e) Reservation of authority. The Board may
extend or accelerate any compliance date of this part if the Board
determines that such extension or acceleration is appropriate. In
determining whether an extension or acceleration is appropriate, the
Board will consider the effect of the modification on financial stability,
the period of time for which the modification would be necessary to
facilitate compliance with this part, and the actions the Board-regulated
institution is taking to come into compliance with this part.
