Regulatory Alerts2020-12-02 | 2020-26138Temporary Asset Thresholds
The OCC, Federal Reserve Board, and FDIC issued an interim final rule to provide temporary regulatory relief for community banking organizations with under $10 billion in total assets. The rule permits these institutions to use December 31, 2019 asset data when determining compliance with various statutory and regulatory thresholds throughout calendar years 2020 and 2021. By allowing this measurement date extension, the agencies mitigate transition costs from pandemic-driven balance sheet growth and prevent premature imposition of stricter reporting standards.
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