Federal Banking Agencies Propose Extension of Certain Regulatory Capital Rule Transitions

The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (collectively, the agencies) announced that they are seeking comment on a proposed rule "that would maintain the capital rule's 2017 transition provisions for several regulatory capital deductions and certain other requirements that are subject to multi-year phase-in schedules in the regulatory capital rules."

Specifically, the agencies propose to maintain the capital rule's 2017 transition provisions for the regulatory capital treatment of the following items: (i) mortgage servicing assets, (ii) deferred tax assets arising from temporary differences that could not be realized through net operating loss carrybacks, (iii) investments in the capital of unconsolidated financial institutions (both significant and non-significant investments), and (iv) minority interest included in regulatory capital. This proposed rule would maintain the 2017 transition provisions for certain items for non-advanced approaches banks while the agencies work on the proposal.

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