[Federal Register Volume 77, Number 45 (Wednesday, March 7, 2012)]
[Proposed Rules]
[Page 13513]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-5522]


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FEDERAL RESERVE SYSTEM

12 CFR Part 252

[Regulation YY; Docket No. 1438]
RIN 7100-AD-86


Enhanced Prudential Standards and Early Remediation Requirements 
for Covered Companies

AGENCY: Board of Governors of the Federal Reserve System (Board).

ACTION: Proposed rule; extension of comment period.

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SUMMARY: On January 5, 2012, the Board published in the Federal 
Register a notice of proposed rulemaking for public comment to 
implement the enhanced prudential standards required to be established 
under section 165 of the Dodd-Frank Wall Street Reform and Consumer 
Protection Act (Dodd-Frank Act or Act) and the early remediation 
requirements established under section 166 of the Act.
    Due to the range and complexity of the issues addressed in the 
rulemaking, the Board has determined that an extension of the end of 
the public comment period from March 31, 2012, until April 30, 2012, is 
appropriate. This action will allow interested persons additional time 
to analyze the proposed rules and prepare their comments.

DATES: Comments on the proposed rule must be received on or before 
April 30, 2012.

ADDRESSES: You may submit comments by any of the methods identified in 
the proposed rule.\1\ Please submit your comments using only one 
method.
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    \1\ See Enhanced Prudential Standards and Early Remediation 
Requirements for Covered Companies, 77 FR 594 (Jan. 5, 2012).

FOR FURTHER INFORMATION CONTACT: Molly E. Mahar, Senior Supervisory 
Financial Analyst, (202) 973-7360, Division of Banking Supervision and 
Regulation; or Laurie Schaffer, Associate General Counsel, (202) 452-
2272, or Dominic A. Labitzky, Senior Attorney, (202) 452-3428, Legal 
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Division.

SUPPLEMENTARY INFORMATION: The proposed rule was published in the 
Federal Register on January 5, 2012,\2\ and would implement the 
enhanced prudential standards required to be established under section 
165 of the Dodd-Frank Act and the early remediation requirements 
established under section 166 of the Act. The enhanced standards 
include risk-based capital and leverage requirements, liquidity 
standards, requirements for overall risk management (including 
establishing a risk committee), single-counterparty credit limits, 
stress test requirements, and a debt-to-equity limit for companies that 
the Financial Stability Oversight Council has determined pose a grave 
threat to financial stability.
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    \2\ Id.
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    In recognition of the complexities of the issues addressed and the 
variety of considerations involved with implementation of the proposal, 
the Board requested that commenters respond to numerous questions. The 
proposed rule stated that the public comment period would close on 
March 31, 2012.\3\
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    \3\ Id.
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    The Board has received requests from the public for an extension of 
the comment period to allow for additional time for comments related to 
the provisions of the proposed rule.\4\ The Board believes that the 
additional period for comment will facilitate public comment on the 
provisions of the proposed rule and the questions posed by the Board. 
Therefore, the Board is extending the comment period for the proposed 
rule from March 31, 2012 to April 30, 2012.
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    \4\ See, e.g., Comment letters to the Board from The Clearing 
House et al. (Jan. 25, 2012); and The Geneva Association (Feb. 13, 
2013).

    By order of the Board of Governors of the Federal Reserve 
System, acting through the Secretary under delegated authority, 
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March 2, 2012.

Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 2012-5522 Filed 3-6-12; 8:45 am]
BILLING CODE 6210-01-P