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Effective Date: Federal Reserve Issues Interim Final Rule to Allow Banks to Revise the Retained Income Defintion

The OCC, Board, and FDIC (together, the agencies) are adopting as final the revisions to the definition of eligible retained income made under the interim final rule published in the Federal Register on March 20, 2020, for all depository institutions, bank holding companies, and savings and loan holding companies subject to the agencies’ capital rule. The final rule revises the definition of eligible retained income to make more gradual any automatic limitations on capital distributions that could apply under the agencies’ capital rule. Separately, in this final rule, the Board also is adopting as final the definition of eligible retained income made under the interim final rule published in the Federal Register on March 26, 2020, for 2 purposes of the Board’s total loss-absorbing capacity (TLAC) rule. The final rule adopts these interim final rules with no changes. Read more here.

  • January 1, 2021
  • Time: All Day
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