(a) Authority. This part (Regulation TT) is issued by the Board of Governors of
the Federal Reserve System (Board) under section 318 of Title III
of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the
Dodd-Frank Act) (Pub. L. 111-203, 124 Stat. 1376, 1423-32, 12 U.S.C.
5365 and 5366), section 401 of the Economic Growth, Regulatory Relief,
and Consumer Protection Act (EGRRCPA) (Pub. L. 115-174, 132 Stat.
1296), and section 11(s) of the Federal Reserve Act (12 U.S.C. 248(s)).
(b) Scope. This part applies to:
(1) Any bank holding company
having total consolidated assets of $100 billion or more, as defined
in this section;
(2) Any savings
and loan holding company having total consolidated assets of $100
billion or more, as defined below; and
(3) Any nonbank financial company supervised by the Board, as defined
section 246.2.
(c) Purpose. This part implements provisions of section 318 of the Dodd-Frank
Act and section 401 of EGRRCPA that direct the Board to collect assessments,
fees, or other charges from companies identified in subsection (b)
that are equal to the total expenses the Board estimates are necessary
or appropriate to carry out the supervisory and regulatory responsibilities
of the Board with respect to these assessed companies and to adjust
the amount charged to assessed companies with total consolidated assets
between $100 billion and $250 billion to reflect any changes in supervisory
and regulatory responsibilities resulting from EGRRCPA.
(d) (1) Reservation of authority. In exceptional circumstances, for
the purpose of avoiding inequitable or inconsistent application of
the rule, the Board may require an assessed company to pay a lesser
amount of assessments than would otherwise be provided for under this
Part.
(2) Use of comparable financial information. The Board may use,
at its discretion, any comparable financial information that the Board
may require from a company in considering whether the company must
pay to the Board an assessment and the amount of such assessment,
pursuant to section 318 of the Dodd-Frank Act.
