Regulatory Alerts2019-07-03
Final Rule Revising the Board's Delegation Rules for Certain Types of Applications, Notices, and Requests
The Board of Governors of the Federal Reserve System issued a final rule expanding the delegated authority of Federal Reserve Banks to act on specific applications, notices, and requests. This revision authorizes Reserve Banks to grant modifications to certain commitments, approve international banking operations, and handle specific merger and acquisition applications while applying the same legal standards as the Board. The Board expects these changes to improve efficiency and timeliness in the regulatory applications process for supervised financial institutions.
Share