Board Actions

System of Records -- publication for comment of a notice of a proposed new system of records, BGFRS-43 (Security Sharing Platform).
-Approved, March 9, 2020
(A/C)

Forms -- final Board review to extend with revision the Financial Statements for Holding Companies (FR Y-9C, FR Y-9LP, FR Y-9SP, FR Y-9ES, and FR Y-9CS).
-Approved, March 27, 2020

Credit Facilities -- (1) establishment of the Term Asset-Backed Securities Loan Facility (TALF), Primary Market Corporate Credit Facility (PMCCF), and Secondary Market Corporate Credit Facility (SMCCF); (2) expansion of assets covered by the Commercial Paper Funding Facility (CPFF) and Money Market Mutual Fund Liquidity Facility (MMLF); and (3) announcement of plans for a Main Street Business Lending Program.
-Approved, March 22, 2020

Division of Financial Stability -- appointment of Kent Hiteshew as deputy associate director.
-Approved, March 24, 2020

Current Expected Credit Loss (CECL) Methodology -- (1) interagency interim final rule with request for comment to provide banking organizations that adopt the CECL methodology during 2020 with the option to delay CECL's impact on regulatory capital; (2) temporary revisions to the Consolidated Financial Statements for Holding Companies (FR Y-9C) and Capital Assessments and Stress Testing Reports (FR Y-14A/Q/M) to reflect the interim final rule; and (3) initial Board review to extend with such revisions the FR Y-9C and FR Y-14A/Q/M reports.
-Approved, March 27, 2020

Policy Payment System Risk (PSR Policy) -- notice of delay until October 1, 2020, of the implementation date of changes to the PSR Policy related to procedures governing the provision of intraday credit to U.S. branches and agencies of foreign banking organizations.
-Approved, March 23, 2020

Standardized Approach for Calculating Counterparty Credit Risk (SA-CCR) -- (1) interagency notice to allow banking organizations to early-adopt the SA-CCR methodology for the first quarter of 2020 and (2) temporary revisions to the Consolidated Financial Statements for Holding Companies (FR Y-9C) to allow banking organizations to reflect early adoption of the SA-CCR methodology.
-Approved, March 26, 2020

Supplementary Leverage Ratio -- interim final rule with request for comment to revise the Board's capital rule so that the denominator of the supplementary leverage ratio temporarily excludes U.S. Treasury securities and deposits at the Federal Reserve Banks.
-Approved, March 25, 2020

Loan Modifications -- interagency statement with the Conference of State Bank Supervisors on loan modifications and reporting for financial institutions working with customers affected by COVID-19.
-Announced, March 22, 2020

Regulatory Reporting Relief -- announcement that the Federal Reserve will offer financial institutions with $5 billion or less in total assets additional time to submit certain regulatory reports in light of staffing priorities and disruptions caused by COVID-19.
-Published, March 26, 2020

Small-Dollar Loans -- interagency statement encouraging banks, savings associations, and credit unions to offer responsible small-dollar loans to consumers and small businesses in response to COVID-19.
-Announced, March 26, 2020

Supervisory Activities -- statement to provide additional information to financial institutions regarding adjustments to the Federal Reserve's supervisory approach in light of COVID-19.
-Announced, March 24, 2020