In order to support and facilitate the timely implementation and acceptance of the congressionally authorized Emergency Capital Investment Program (ECIP) for the Department of the Treasury to make capital investments in low- and moderate-income community financial institutions, the Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency adopted an interim final rule that provides that preferred stock issued under ECIP qualifies as additional tier 1 capital and that subordinated debt issued under ECIP qualifies as tier 2 capital under the agencies’ capital rule. More... The interim final rule is effective March 22, 2021 (Regulation Q, Docket R-1741), the same day it was published in the Federal Register. Comments on this interim final rule must be received by May 21, 2021.

On March 26, 2021, the Board revised the listing of Supervision and Regulation (SR) letters that are applicable to savings and loan holding companies (SLHCs) to align with the SR letters that were made inactive with the issuance of SR letter 21-4 / CA 21-2, “Inactive or Revised SR Letters Related to the Federal Reserve’s Supervisory Expectations for a Firm’s Boards of Directors.” More... Revising the listing of SR letters that apply to SLHCs is consistent with and part of the Board’s initiative to establish an SLHC supervisory program similar in nature to the bank holding company supervisory program. The listed SR letters augment the Board’s SLHC supervisory program that is set forth in SR letter 11-11 / CA 11-5, “Supervision of Savings and Loan Holding Companies (SLHCs).” If an SR letter is superseded or made inactive at a future date, the listing will be updated to reflect the status of the letter (Guidance, Savings and Loan Holding Companies at 4-866).

The revised listing affects the following guidance published in the Federal Reserve Regulatory Service:

The Payment, Clearing, and Settlement Supervision Act has been added to the statutory provisions of Regulation HH (at 9-1625 et seq.); 12 U.S.C. 5461 et seq.; 124 Stat. 1802; Pub. L. 111-203, Dodd-Frank Wall Street Reform and Consumer Protection Act, title VIII (July 21, 2010).

The Board invites public comment on a proposal to automate non-merger-related adjustments to member banks’ subscriptions to Federal Reserve Bank capital stock. More... The Board is also proposing certain technical amendments to Regulation I and conforming revisions to the FR 2056 reporting form. Comments on this notice of proposed rulemaking must be received by June 14, 2021 (Docket R-1745).