The Board published a final rule that applies an inflation adjustment to the $10 billion total consolidated asset threshold in Regulation I, which implements the provision of the Fixing America’s Surface Transportation Act (FAST Act) that sets the dividend rate that member banks with more than $10 billion in total consolidated assets earn on their Federal Reserve Bank stock. More... The FAST Act requires that the Board annually adjust the $10 billion total consolidated asset threshold to reflect the change in the Gross Domestic Product Price Index, published by the Bureau of Economic Analysis. Based on the change in the Gross Domestic Product Price Index as of September 29, 2016, the total consolidated asset threshold will be $10,122,000,000 through December 31, 2017. The final rule is effective March 27, 2017 (Regulation I at 3-460, Docket R-1560) and was published in the Federal Register on February 24, 2017.

The Department of the Treasury (Treasury), published this final rule to adjust its civil monetary penalties (CMPs) for inflation as mandated by the Federal Civil Penalties Inflation Adjustment Act of 1990, as amended by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015 (collectively, “the Act”). More... This rule adjusts CMPs within the jurisdiction of certain components of the Treasury to the maximum amount required by the Act. The final rule is effective February 10, 2017 (Department of the Treasury, Financial Crimes Enforcement Network at 3-1700), the same day it was published in the Federal Register .

The Board is adopting a final rule to implement public disclosure requirements for the liquidity coverage ratio (LCR) rule. The final rule applies to all depository institution holding companies and covered nonbank financial companies that are required to calculate an LCR under the Board’s LCR rule (covered companies). More... Under the final rule, a covered company will be required to disclose publicly, on a quarterly basis, quantitative information about its LCR calculation and a discussion of the factors that have a significant effect on its LCR. The final rule also provides additional time for companies that become subject to the Board’s modified LCR requirement in the future to come into compliance with the requirement. The final rule is effective April 1, 2017 (Regulation WW at 3-3850, Docket R-1525) and was published in the Federal Register on December 27, 2016.

The Board adopted a final rule that revises the capital plan and stress test rules for bank holding companies with $50 billion or more in total consolidated assets and U.S. intermediate holding companies (IHCs) of foreign banking organizations. More... Under the final rule, large and noncomplex firms (those with total consolidated assets of at least $50 billion but less than $250 billion, nonbank assets of less than $75 billion, and that are not U.S. global-systemically important banks) are no longer subject to the provisions of the Board’s capital plan rule whereby the Board may object to a capital plan on the basis of qualitative deficiencies in the firm’s capital planning process. Accordingly, these firms will no longer be subject to the qualitative component of the annual Comprehensive Capital Analysis and Review (CCAR). The final rule also modifies certain regulatory reports to collect additional information on nonbank assets and to reduce reporting burdens for large and noncomplex firms. For all bank holding companies subject to the capital plan rule, the final rule simplifies the initial applicability provisions of both the capital plan and the stress test rules, reduces the amount of additional capital distributions that a bank holding company may make during a capital plan cycle without seeking the Board’s prior approval, and extends the range of potential as-of dates the Board may use for the trading and counterparty scenario component used in the stress test rules.

The final rule does not apply to bank holding companies with total consolidated assets of less than $50 billion or to any state member bank or savings and loan holding company. The final rule is effective March 6, 2017 (Regulation Y at 4-001 and Regulation YY at 4-783, Docket R-1548) and was published in the Federal Register on February 3, 2017.

The Board adopted a final rule to require a U.S. top-tier bank holding company identified under the Board’s rules as a global systemically important bank holding company (covered BHC) to maintain outstanding a minimum amount of loss-absorbing instruments, including a minimum amount of unsecured long-term debt. In addition, the final rule prescribes certain additional buffers, the breach of which would result in limitations on the capital distributions and discretionary bonus payments of a covered BHC. More... The final rule applies similar requirements to the top-tier U.S. intermediate holding company of a global systemically important foreign banking organization with $50 billion or more in U.S. non-branch assets (covered IHC). The final rule also imposes restrictions on other liabilities that a covered BHC or covered IHC may have outstanding in order to improve their resolvability and resiliency; these restrictions are referred to in the final rule as “clean holding company requirements.” The final rule is effective March 27, 2017 (Regulation YY at 4-783, Docket R-1523) and was published in the Federal Register on January 24, 2017.