82_FR_56016 82 FR 55791 - Large Financial Institution Rating System; Regulations K and LL

82 FR 55791 - Large Financial Institution Rating System; Regulations K and LL

FEDERAL RESERVE SYSTEM

Federal Register Volume 82, Issue 225 (November 24, 2017)

Page Range55791-55791
FR Document2017-25371

On August 17, 2017, the Board published in the Federal Register a proposed new rating system for its supervision of large financial institutions. To facilitate effective public comment on the proposal, the Board previously extended the comment period from October 16, 2017, to November 30, 2017. The Board has determined that a further extension of the comment period until February 15, 2018, is appropriate. This action will allow interested persons additional time to analyze the proposal and prepare their comments.

Federal Register, Volume 82 Issue 225 (Friday, November 24, 2017) 
[Federal Register Volume 82, Number 225 (Friday, November 24, 2017)]
[Proposed Rules]
[Page 55791]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-25371]


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FEDERAL RESERVE SYSTEM

12 CFR Parts 211 and 238

[Docket No. R-1569]
RIN 7100-AE82


Large Financial Institution Rating System; Regulations K and LL

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

ACTION: Notice of proposed rulemaking; extension of comment period.

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SUMMARY: On August 17, 2017, the Board published in the Federal 
Register a proposed new rating system for its supervision of large 
financial institutions. To facilitate effective public comment on the 
proposal, the Board previously extended the comment period from October 
16, 2017, to November 30, 2017. The Board has determined that a further 
extension of the comment period until February 15, 2018, is 
appropriate. This action will allow interested persons additional time 
to analyze the proposal and prepare their comments.

DATES: Comments on the proposed rule published August 17, 2017, 82 FR 
39049, are extended and must be received on or before February 15, 
2018.

ADDRESSES: You may submit comments by any of the methods identified in 
the proposal. Please submit your comments using only one method.

FOR FURTHER INFORMATION CONTACT: Richard Naylor, Associate Director, 
(202) 728-5854, Vaishali Sack, Manager, (202) 452-5221, April Snyder, 
Manager, (202) 452-3099, Bill Charwat, Senior Project Manager, (202) 
452-3006, Division of Supervision and Regulation, Scott Tkacz, Senior 
Counsel, (202) 452-2744, or Christopher Callanan, Senior Attorney, 
(202) 452-3594, Legal Division, Board of Governors of the Federal 
Reserve System, 20th and C Streets NW., Washington, DC 20551. For the 
hearing impaired only, Telecommunications Device for the Deaf (TDD) 
users may contact (202) 263-4869.

SUPPLEMENTARY INFORMATION: On August 17, 2017, the Board published in 
the Federal Register a proposed new rating system for its supervision 
of large financial institutions.\1\ The proposed ``Large Financial 
Institution Rating System'' is closely aligned with the Federal 
Reserve's new supervisory program for large financial institutions. The 
proposed rating system would apply to all bank holding companies with 
total consolidated assets of $50 billion or more; all non-insurance, 
non-commercial savings and loan holding companies with total 
consolidated assets of $50 billion or more; and U.S. intermediate 
holding companies of foreign banking organizations established pursuant 
to the Federal Reserve's Regulation YY. The proposed rating system 
includes a new rating scale under which component ratings would be 
assigned for capital planning and positions, liquidity risk management 
and positions, and governance and controls. The Federal Reserve 
proposes to assign initial ratings under the new rating system during 
2018. The Federal Reserve is also seeking comment on proposed revisions 
to existing provisions in Regulations K and LL so they would remain 
consistent with certain features of the proposed rating system.
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    \1\ See ``Large Financial Institution Rating System; Regulations 
K and LL,'' 82 FR 39049 (August 17, 2017).
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    The proposal stated that the public comment period would close on 
October 16, 2017, which the Board previously extended to November 30, 
2017.\2\
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    \2\ See ``Large Financial Institution Rating System; Regulations 
K and LL,'' 82 FR 47164 (October 11, 2017).
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    An additional extension of the comment period will provide an 
opportunity for the public to comment on the ratings framework and 
related supervisory expectations as a whole. Therefore, the Board is 
extending the end of the comment period for the proposal from November 
30, 2017, to February 15, 2018.

    By order of the Board of Governors of the Federal Reserve 
System, acting through the Secretary of the Board under delegated 
authority, November 17, 2017.
Ann E. Misback,
Secretary of the Board.
[FR Doc. 2017-25371 Filed 11-22-17; 8:45 am]
BILLING CODE 6210-01-P

Federal Register / Vol. 82, No. 225 / Friday, November 24, 2017 / Proposed Rules 55791 For the Nuclear Regulatory Commission. financial institutions.1 The proposed DEPARTMENT OF TRANSPORTATION Patricia Holahan, ‘‘Large Financial Institution Rating Director, Division of Rulemaking, Office of System’’ is closely aligned with the Federal Aviation Administration Nuclear Material Safety and Safeguards. Federal Reserve’s new supervisory [FR Doc. 2017–25341 Filed 11–22–17; 8:45 am] program for large financial institutions. 14 CFR Parts 61 and 121 BILLING CODE 7590–01–P The proposed rating system would [Docket No.: FAA–2017–1106 Notice No. 17– apply to all bank holding companies 02] with total consolidated assets of $50 RIN 2120–AL03 FEDERAL RESERVE SYSTEM billion or more; all non-insurance, non- commercial savings and loan holding Recognition of Pilot in Command 12 CFR Parts 211 and 238 companies with total consolidated Experience in the Military and in Part assets of $50 billion or more; and U.S. 121 Air Carrier Operations [Docket No. R–1569] intermediate holding companies of AGENCY: Federal Aviation RIN 7100–AE82 foreign banking organizations Administration (FAA), DOT. established pursuant to the Federal Large Financial Institution Rating ACTION: Notice of proposed rulemaking. Reserve’s Regulation YY. The proposed System; Regulations K and LL rating system includes a new rating SUMMARY: This notice of proposed AGENCY: Board of Governors of the scale under which component ratings rulemaking (NPRM) would allow pilots Federal Reserve System (Board). would be assigned for capital planning who obtained pilot in command (PIC) and positions, liquidity risk experience prior to July 31, 2013, in ACTION: Notice of proposed rulemaking; management and positions, and certain air carrier operations, to count extension of comment period. governance and controls. The Federal that time towards the 1,000 hours of air SUMMARY: On August 17, 2017, the Reserve proposes to assign initial ratings carrier experience required to serve as a Board published in the Federal Register under the new rating system during PIC in air carrier operations today. This a proposed new rating system for its 2018. The Federal Reserve is also would correct an inadvertent omission supervision of large financial seeking comment on proposed revisions in the Pilot Certification and institutions. To facilitate effective to existing provisions in Regulations K Qualification Requirements for Air public comment on the proposal, the and LL so they would remain consistent Carrier Operations final rule that Board previously extended the comment with certain features of the proposed established the air carrier experience period from October 16, 2017, to rating system. requirement. It would also broaden the November 30, 2017. The Board has existing 500-hour credit military pilots The proposal stated that the public of fixed-wing airplanes can use towards determined that a further extension of comment period would close on the 1,000 hours of air carrier experience the comment period until February 15, 2018, is appropriate. This action will October 16, 2017, which the Board by permitting pilots of select powered- allow interested persons additional time previously extended to November 30, lift aircraft operations to receive credit. to analyze the proposal and prepare 2017.2 This NPRM would also allow credit for their comments. An additional extension of the select military time in a powered-lift DATES: Comments on the proposed rule comment period will provide an aircraft flown in horizontal flight published August 17, 2017, 82 FR opportunity for the public to comment towards the 250 hours of airplane time 39049, are extended and must be on the ratings framework and related as PIC, or second in command (SIC) received on or before February 15, 2018. supervisory expectations as a whole. performing the duties of PIC, required Therefore, the Board is extending the for an airline transport pilot (ATP) ADDRESSES: You may submit comments end of the comment period for the certificate. by any of the methods identified in the proposal. Please submit your comments proposal from November 30, 2017, to DATES: Send comments on or before using only one method. February 15, 2018. January 23, 2018. FOR FURTHER INFORMATION CONTACT: By order of the Board of Governors of the ADDRESSES: Send comments identified Richard Naylor, Associate Director, Federal Reserve System, acting through the by docket number FAA–2017–1106 (202) 728–5854, Vaishali Sack, Manager, Secretary of the Board under delegated using any of the following methods: (202) 452–5221, April Snyder, Manager, authority, November 17, 2017. • Federal eRulemaking Portal: Go to (202) 452–3099, Bill Charwat, Senior http://www.regulations.gov and follow Ann E. Misback, Project Manager, (202) 452–3006, the online instructions for sending your Secretary of the Board. comments electronically. Division of Supervision and Regulation, Scott Tkacz, Senior Counsel, (202) 452– [FR Doc. 2017–25371 Filed 11–22–17; 8:45 am] • Mail: Send comments to Docket 2744, or Christopher Callanan, Senior BILLING CODE 6210–01–P Operations, M–30; U.S. Department of Attorney, (202) 452–3594, Legal Transportation (DOT), 1200 New Jersey Division, Board of Governors of the Avenue SE., Room W12–140, West Federal Reserve System, 20th and C Building Ground Floor, Washington, DC Streets NW., Washington, DC 20551. For 20590–0001. • Hand Delivery or Courier: Take sradovich on DSK3GMQ082PROD with PROPOSALS the hearing impaired only, Telecommunications Device for the Deaf comments to Docket Operations in (TDD) users may contact (202) 263– Room W12–140 of the West Building 4869. 1 See ‘‘Large Financial Institution Rating System; Ground Floor at 1200 New Jersey Regulations K and LL,’’ 82 FR 39049 (August 17, Avenue SE., Washington, DC, between 9 SUPPLEMENTARY INFORMATION: On August 2017). a.m. and 5 p.m., Monday through 17, 2017, the Board published in the 2 See ‘‘Large Financial Institution Rating System; Friday, except Federal holidays. Federal Register a proposed new rating Regulations K and LL,’’ 82 FR 47164 (October 11, • Fax: Fax comments to Docket system for its supervision of large 2017). Operations at 202–493–2251. VerDate Sep<11>2014 16:52 Nov 22, 2017 Jkt 244001 PO 00000 Frm 00002 Fmt 4702 Sfmt 4702 E:\FR\FM\24NOP1.SGM 24NOP1


Document Created: 2017-11-22 23:33:56
Document Modified: 2017-11-22 23:33:56
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionProposed Rules
ActionNotice of proposed rulemaking; extension of comment period.
DatesComments on the proposed rule published August 17, 2017, 82 FR 39049, are extended and must be received on or before February 15, 2018.
ContactRichard Naylor, Associate Director, (202) 728-5854, Vaishali Sack, Manager, (202) 452-5221, April Snyder, Manager, (202) 452-3099, Bill Charwat, Senior Project Manager, (202) 452-3006, Division of Supervision and Regulation, Scott Tkacz, Senior Counsel, (202) 452-2744, or Christopher Callanan, Senior Attorney, (202) 452-3594, Legal Division, Board of Governors of the Federal Reserve System, 20th and C Streets NW., Washington, DC 20551. For the hearing impaired only, Telecommunications Device for the Deaf (TDD) users may contact (202) 263-4869.
FR Citation82 FR 55791 
RIN Number7100-AE82
CFR Citation12 CFR 211
12 CFR 238
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