Semiannual Regulatory Flexibility Agenda

The Board of Governors of the Federal Reserve System (FED) has published in the Federal Register its Spring 2023 regulatory agenda. The agenda outlines all – at the time known – regulatory issues and actions that the Board will consider for the upcoming 6 months which is – in this case – the period from May 2023 through October 2023. Each issue and action is described in detail. In addition, the FED provides details on the development of such issues and actions i.e. by indicating whether or not a proposed rule has been published yet, a comment period has ended yet, or the rules have been finalized yet.
In this particular case, the FED announces an upcoming consultation to implement section 616(d) of the Dodd-Frank Wall Street Reform and Consumer Protection Act which requires certain holding companies in control of insured depository institutions to serve as a „source of strength“ for those institutions.
Also, the FED announces an upcoming Regulatory Flexibility Analysis of its regulation Regulation LL – Savings and Loan Holding Companies (12 CFR Part 238) and Regulation MM – Mutual Holding Companies (12 CFR Part 239) which were implemented in 2011 by an interim final rule and stipulate requirements as regards savings and loan holding companies (SLHCs) and their non-depository subsidiaries and mutual holding companies e.g. with respect to activities in which they may engage or approval for such activities or with respect to the appointment of the Board of Directors.