The Board, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) (collectively, “the agencies”) issued a final rule to implement section 205 of the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA) by expanding the eligibility to file the agencies’ most streamlined report of condition, the FFIEC 051 Call Report, to include certain insured depository institutions with less than $5 billion in total consolidated assets that meet other criteria, and establishing reduced reporting on the FFIEC 051 Call Report for the first and third reports of condition for a year. More... The Board and OCC also are finalizing similar reduced reporting for certain uninsured institutions that they supervise with less than $5 billion in total consolidated assets that otherwise meet the same criteria. This document also includes a Paperwork Reduction Act notice to further reduce the amount of data required to be reported on the FFIEC 051 Call Report for the first and third calendar quarters, and other related changes. The agencies are committed to exploring further burden reduction and are actively evaluating further revisions to the FFIEC 051 Call Report, consistent with guiding principles developed by the FFIEC. The agencies also are considering ways to simplify the Call Report forms and instructions. The final rule is effective July 22, 2019 (Regulation H, Docket R-1618) and was published in the Federal Register on June 21, 2019.

The Board, the FDIC, and the OCC are jointly adopting as a final rule, without change, the August 31, 2018, interim final rule, which amended the agencies’ liquidity coverage ratio rule to treat liquid and readily-marketable, investment grade municipal obligations as high-quality liquid assets. More... This treatment was mandated by section 403 of EGRRCPA. The final rule is effective July 5, 2019 (Regulation WW, Docket R-1616) and was published in the Federal Register on June 5, 2019.

The Board is amending its rules regarding delegation of authority to delegate to Federal Reserve Banks authority to approve certain types of applications, notices, and requests. More... Under the rule, Federal Reserve Banks are delegated authority to waive a requirement to file certain applications under the Bank Holding Company Act and the Home Owners’ Loan Act; grant or deny requests for modifying certain commitments; authorize a state member bank to make a public welfare investment in accordance with section 9 of the Federal Reserve Act under certain circumstances; and approve certain requests, applications, and notices relating to international banking operations filed pursuant to the Board’s Regulation K. The rule also modifies the delegation rules by authorizing the Federal Reserve Banks to approve applications and notices concerning mergers and acquisitions that do not exceed the Board’s delegation criteria for competition after including deposits of qualifying credit unions weighted at 50 percent and deposits of “commercially active” thrift institutions weighted in most cases at 100 percent. In a limited number of cases, deposits of all thrifts would be weighted at 100 percent. To ensure the Board’s delegation rules are consistent, the rule also revises or rescinds, as appropriate, certain existing delegations to the Federal Reserve Banks, the secretary of the Board, and the director of the Division of Supervision and Regulation. The final rule is effective July 3, 2019 (Rules Regarding Delegation of Authority, Docket R-1667), the same day it was published in the Federal Register.

Pursuant to the provisions of the Privacy Act of 1974, notice was given that the Board proposes to modify existing system of records BGFRS-40 “FRB—Board Subscription Services” to add an offline check payment option on the Federal Reserve Regulatory Service website and to make a technical correction to the routine uses for the system. More... The modified system of records became effective after the comment period closed on July 18, 2019 (Rules Regarding Access to Personal Information under the Privacy Act of 1974, Systems of Records of the Federal Reserve System). The modified system of records was published in the Federal Register on June 18, 2019.

The Board issued a final rule to revise and expand its equal employment opportunity regulation to adopt recent changes the Equal Employment Opportunity Commission made to its rules. More... The Board’s rule is intended to provide Board employees, applicants for employment, and others with the same substantive and procedural rights generally guaranteed to others under title VII of the Civil Rights Act of 1964, the Equal Pay Act, the Age Discrimination in Employment Act, and the Rehabilitation Act and thus to comply with the spirit of those laws. The Board’s rule also clarifies provisions related to Board employees’ right to bring a claim before the Merit System Protection Board and the Federal Labor Relations Board. The final rule is effective July 11, 2019 (Rules Regarding Equal Opportunity, Docket R-1630) and was published in the Federal Register on June 11, 2019.

The Board is inviting comment on a notice of proposed rulemaking that would amend the Board’s Rules Regarding Availability of Information. More... The amendments clarify and update the Board’s regulations implementing the Freedom of Information Act and the rules governing the disclosure of confidential supervisory information and other nonpublic information of the Board. Comments on this notice of proposed rulemaking must be received by August 16, 2019 (Docket R-1665).

The Board, the FDIC, and the OCC are issuing a notice of proposed rulemaking to seek comment on the treatment of loans that finance the development of land for purposes of the one- to four-family residential properties exclusion in the definition of high volatility commercial real estate (HVCRE) exposure in the agencies’ regulatory capital rule. More... This proposal expands upon the notice of proposed rulemaking issued on September 28, 2018, which proposed to revise the definition of HVCRE exposure in the regulatory capital rule to conform to the statutory definition of “high volatility commercial real estate acquisition, development, or construction (HVCRE ADC) loan,” in accordance with section 214 of EGRRCPA. Comments on this notice of proposed rulemaking must be received by August 22, 2019 (Docket R-1669).