Regulatory Alerts2019-11-20 | 2019-24966Single-Counterparty Credit Limits for Bank Holding Companies and Foreign Banking Organizations
The Board of Governors of the Federal Reserve System proposes to extend the initial compliance dates for the Single-Counterparty Credit Limits rule applicable to the combined U.S. operations of foreign banking organizations by 18 months. The amendment shifts the deadlines to July 1, 2021, for global systemically important banking organizations and January 1, 2022, for other foreign banking organizations, allowing time for home-country supervisors to fully implement Basel Committee large exposure standards. The proposal maintains the original compliance timeline for U.S. intermediate holding companies and invites public comment on the extension's appropriateness and potential alternatives.
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