Long-Term Debt Requirements for Large Bank Holding Companies, Certain Intermediate Holding Companies of Foreign Banking Organizations, and Large Insured Depository Institutions
12 CFR Parts 324 and 374 RIN 3064–AF86
Notice of proposed rulemaking with request for public comment
88 FR 64524
Comment Period End: November 30, 2023
Extended Comment Period End: January 16, 2024
Summary: The Federal Deposit Insurance Corporation, Board of Governors of the Federal Reserve System (Board), and Office of the Comptroller of the Currency are proposing a rule that would require certain large banks to have outstanding a certain amount of long-term debt. This debt could make it easier to resolve these banks if they fail. The Board is also proposing a rule to impose similar requirements at the holding company level, prohibiting such institutions from engaging in certain activities, and changing its Total Loss Absorbing Capacity rule applicable to certain Global Systemically Important Banks (located at 12 CFR 252.60(b)(2) and .160(b)(2)).
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| Submitted By |
| 01. Breckinridge Capital Advisors, Peter B. Coffin |
| 02. MEW Consul, Manfred E. Will |
| 03. Bank Policy Institute and 4 other associations |
| 04. Breckinridge Capital Advisors, Peter B. Coffin |
| 05. James A. Marino |
| 06. The Credit Roundtable |
| 07. Independent Community Bankers of America, James Kendrick |
| 08. Zions Bancorporation, Harris H. Simmons |
| 09. SIFMA and SIFMA Asset Management Group |
| 10. Fifth Third Bancorp |
| 11. Better Markets, Inc |
| 12. Discover Financial Services |
| 13. Charles Schwab, Peter J. Morgan, III |
| 14. Ally Financial Inc. and 3 other Organizations |
| 15. Financial Services Forum |
| 16. Institute of International Bankers |
| 17. Ally Financial Inc. and 8 other organizations |
| 18. Americans for Financial Reform Education Fund |
| 19. U.S. Bank |
| 20. Bank Policy Institute |
| 21. Regions Financial Corporation |
| 22. Conference of State Bank Supervisors |
| 23. Anat R. Admati |
| 24. Americans for Tax Reform |
| 25. Public Citizen |
| Meeting Memoranda |
| 01. Meeting Between Staff of the Federal Deposit Insurance Corporation, Federal Reserve Board, Office of the Comptroller of the Currency, and Representatives from RBC Capital Markets LLC |
| 02. Meeting Between Staff of the Federal Deposit Insurance Corporation, Federal Reserve Board, Office of the Comptroller of the Currency, and a Representative from RBC Capital Markets LLC |
| 03. Meeting Between the Chairman and Supervision Leadership of the Federal Deposit Insurance Corporation and the Conference of State Bank Supervisors Executive Committee |
