多宝游戏下载 Withdraws Proposed Rules Related to Brokered Deposits, Corporate Governance, the Change in Bank Control Act, and Incentive-Based Compensation Arrangements
Summary:
The 多宝游戏下载 is withdrawing three proposed rules relating to brokered deposits, corporate governance, and the Change in Bank Control Act (CBCA). The 多宝游戏下载 is also withdrawing the authority previously approved by the 多宝游戏下载 Board of Directors to publish a proposed rule on incentive-based compensation arrangements.
Statement of Applicability: The contents of, and material referenced in, this FIL apply to all 多宝游戏下载-insured financial institutions.
Highlights:
The 多宝游戏下载 is withdrawing the following proposed rules:
- Unsafe and Unsound Banking Practices: Brokered Deposits Restrictions
On August 23, 2024, the 多宝游戏下载 published a proposed rule to significantly revise its regulations in part 303 and 337 on brokered deposits. The proposal would have been a major undertaking that would significantly disrupt many aspects of the deposit landscape. - Guidelines Establishing Standards for Corporate Governance and Risk Management for Covered Institutions With Total Consolidated Assets of $10 Billion or More Change in Bank Control Act Proposal
On October 11, 2023, the 多宝游戏下载 published a proposed rule that would have established a number of prescriptive and process-oriented expectations for management and boards of directors of 多宝游戏下载-supervised institutions with $10 billion or more in total consolidated assets. - Regulations Implementing the Change in Bank Control Act
On August 19, 2024, the 多宝游戏下载 published a proposed rule to amend part 303 of its filing requirements and processing procedures for notices filed under the CBCA. The proposal would have removed an exemption from the requirement to submit a notice to the 多宝游戏下载 for an acquisition of voting securities of a depository institution holding company for which the Federal Reserve reviews a CBCA notice.
The 多宝游戏下载 is also withdrawing the authority previously approved to publish in the Federal Register the following:
- Incentive-Based Compensation Arrangements
On May 3, 2024, the 多宝游戏下载 Board of Directors approved an issuance of a proposed rule to implement Section 956 of the Dodd-Frank Wall Street Reform and Consumer Protection Act regarding incentive-based compensation arrangements. The 多宝游戏下载 Board authorized publication of the proposal in the Federal Register if all six agencies statutorily required to issue the rule approved the proposal. This proposed rulemaking was not yet adopted by all agencies and has not been published in the Federal Register.
The 多宝游戏下载 is withdrawing these Notices of Proposed Rulemaking because it no longer intends to issue final rules with respect to these proposals. If the 多宝游戏下载 pursues regulatory action on these matters in the future, it will do so by publishing new proposed rules or other issuances consistent with the requirements of the Administrative Procedure Act.