Federal bank regulatory agencies finalize three rules
Agencies issued three final rules Wednesday, all either identical or very similar to interim final rules currently in effect and issued earlier this year.
On Wednesday, the Board of Governors of the Federal Reserve System released a statement that the federal bank regulatory agencies finalized three rules.
Each rule is said to be either identical or very similar to interim final rules currently in effect that were issued earlier this year.
These rules include:
- A final rule that temporarily modifies the community bank leverage ratio, as required by the CARES Act;
- A final rule that makes more gradual, as intended, the automatic restrictions on distributions if a banking organization’s capital levels decline below certain levels; and
- A final rule that allows institutions that adopt the current expected credit losses or “CECL” accounting standard in 2020 to mitigate the estimated effects of CECL on regulatory capital for two years.
