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Financial Institution Letters

June 22, 2016

Proposed Rulemaking to Remove References to Credit Ratings from the FDIC'S International Banking Regulations

Printable Format:

FIL-40-2016 - PDF (PDF Help)


On June 21, 2016, the FDIC Board of Directors adopted the attached Notice of Proposed Rulemaking (NPR) and request for comment, which would amend the FDIC's international banking regulations related to permissible investment activities and the pledging of assets. The proposed rule would remove references to external credit ratings and replace them with appropriate standards of creditworthiness. The proposed changes in the FDIC Rules and Regulations Part 347, subparts A and B, are consistent with Section 939A of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Comments will be solicited on this NPR for 60 days following publication in the Federal Register.

Statement of Applicability to Institutions Under $1 Billion in Total Assets: The NPR applies to insured state nonmember banks that operate foreign branches and insured U.S. branches of foreign banks. Generally, these institutions do not have less than $1 billion in assets.



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