Federal Reserve Board issues final rule modifying the annual assessment fees for its supervision and regulation of large financial companies
November 19, 2020 / Source: FRB
Press Release
The Federal Reserve Board on Thursday issued a final rule modifying the annual assessment fees for its supervision and regulation of large financial companies, as required by the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA). The final rule is nearly identical to the proposal issued in November 2019.
The final rule raises the threshold at which fees are assessed for bank holding companies and savings and loan holding companies from $50 billion to $100 billion in total consolidated assets. Additionally, it adjusts the amount charged to certain bank holding companies and savings and loan holding companies following changes from the Board related to the EGRRCPA.
The final rule will be effective 30 days after publication in the Federal Register.
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