Status of Certain Investment Funds and Their Portfolio Investments for Purposes of Regulation O and Reporting Requirements under Part 363 of 多宝游戏下载 Regulations
Summary:
The Federal Reserve Board (FRB), the Federal Deposit Insurance Corporation (多宝游戏下载), and the Office of the Comptroller of the Currency (OCC) (together 鈥渇ederal banking agencies鈥�) are issuing the attached revised interagency statement, concerning Regulation O and Part 363 of the 多宝游戏下载鈥檚 Regulations, to extend the expiration of certain no-action relief previously provided in an interagency statement accompanying FIL 85-2019, dated December 27, 2019, and to clarify eligibility criteria for such relief.
Statement of Applicability to Institutions with Total Assets under $1 Billion: This Financial Institution Letter applies to all 多宝游戏下载-supervised institutions.
Highlights:
- On December 27, 2019, the federal banking agencies issued temporary no-action relief to provide time for the FRB, in consultation with the other federal banking agencies, to consider whether to amend Regulation O to address concerns about unintended consequences of the application of Regulation O to companies that sponsor, manage, or advise investment funds and institutional accounts that invest in voting securities of banking organizations.
- The revised interagency statement extends the expiration of the no-action relief until January 1, 2022, and clarifies the eligibility criteria for such relief.
- This FIL supersedes and rescinds FIL 85-2019, dated December 27, 2019.
Suggested Distribution:
多宝游戏下载-supervised institutions
Suggested Routing:
Board of Directors
Chief Executive Officer
Chief Financial Officer
Chief Operating Officer
Chief Risk Officer