�౦��Ϸ����

Summary:

�౦��Ϸ���� (�౦��Ϸ����) Board of Directors has adopted a final rule to clarify and codify the role of supervisory guidance.

A copy of the Final Rule can be found on the �౦��Ϸ����'s website.

Statement of Applicability: This Financial Institution Letter (FIL) applies to all �౦��Ϸ����-supervised financial institutions.

Highlights:

• On November 5, 2020, the �౦��Ϸ����, Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve, Consumer Financial Protection Bureau, and National Credit Union Administration published, in the Federal Register, a joint proposed rule to codify the September 11, 2018 Interagency Statement on the Role of Supervisory Guidance (FIL-49-2018), with clarifying changes, as an appendix to proposed rule text.
• On January 19, 2021, the �౦��Ϸ���� adopted the proposed rule without substantive change.
• The final rule, codified at 12 CFR Part 302, reiterates the distinction between regulation and supervisory guidance and clarifies the �౦��Ϸ����’s policies and practices to:
  • Limit the use of numerical thresholds in guidance;
  • Instruct examiners not to criticize an institution for a “violation” of supervisory guidance;
  • Reduce the issuance of multiple supervisory guidance on the same topic;
  • Make the role of supervisory guidance clear in communications to examiners and supervised financial institutions; and
  • Encourage supervised institutions to discuss questions about supervisory guidance with their appropriate agency contact.
• The final rule is effective 30 days from the date of publication in the Federal Register.
• FIL-49-2018 is rescinded upon the effective date of the rule.

Distribution:

�౦��Ϸ����-Supervised Institutions

Suggested Routing:

Board of Directors 
Chief Executive Officer 
Compliance Officer