Supervision and Regulation Letters

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SR 20-2:

Frequently Asked Questions on the Tailoring Rules

BOARD OF GOVERNORS
OF THE FEDERAL RESERVE SYSTEM
WASHINGTON, D.C. 20551

DIVISION OF
SUPERVISION AND REGULATION

SR 20-2
January 13, 2020
Revised August 11, 2020

In August 2020, this letter was revised to provide additional frequently asked questions in response to questions from institutions regarding the final rules to tailor certain prudential standards for large domestic and foreign banking organizations. The updated FAQs, together with the FAQs issued in January 2020, are attached to this letter.

TO THE OFFICER IN CHARGE OF SUPERVISION AT EACH FEDERAL RESERVE BANK

SUBJECT:

Frequently Asked Questions on the Tailoring Rules

Applicability:  This guidance applies to bank holding companies, savings and loan holding companies, and U.S. intermediate holding companies with $100 billion or more in total consolidated assets as well as to certain depository institutions. For other banking organizations affected by the tailoring rules, this guidance may address their questions on applicability.

The Board of Governors of the Federal Reserve System (the Board) is issuing frequently asked questions (FAQs) in response to questions from institutions regarding the final rules to tailor certain prudential standards for large domestic and foreign banking organizations to more closely match their risk profiles (tailoring rules).1

This letter announces the initial set of FAQs on this topic, which are included in the attachment to this letter. The Board may periodically update the FAQs and, therefore, institutions are encouraged to check the Board's public website for new FAQs or revisions to a previously issued FAQ. The Federal Reserve will issue a letter to announce any subsequent additions or changes to these FAQs.

Questions related to the implementation of the tailoring rules may be sent to the following inbox:  [email protected]. In addition, questions may be sent via the Board's public website.2

signed by
Michael S. Gibson
Director
Division of
Supervision and Regulation

Attachments:
Notes:
  1. 84 Fed. Reg. 59032 (November 1, 2019); 84 Fed. Reg. 59230 (November 1, 2019). In addition, the Board, together with the Federal Deposit Insurance Corporation, adopted a final rule to tailor resolution planning requirements in a manner consistent with the framework described in the tailoring rules. 84 Fed. Reg. 59194 (November 1, 2019).   Return to text.
  2. See http://www.federalreserve.gov/apps/contactus/feedback.aspx.  Return to text.
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Last Update: August 11, 2020