Press Release

December 09, 2016 Federal Reserve Board invites comment on proposal to fully apply Board's existing rating system for bank holding companies to savings and loan holding companies For release at 11:00 a.m. EST Share The Federal Reserve Board on Friday invited comment on a proposal to fully apply the Board's existing rating system for bank holding companies to savings and loan holding companies. The Dodd-Frank Act transferred responsibility for the regulation and supervision of savings and loan holding companies to the Board, effective July 2011. Since then, the Board has applied its rating system to savings and loan holding companies on an "indicative" basis that describes how the savings and loan holding company would be rated. However, the assignment of an unsatisfactory indicative rating has not automatically triggered supervisory action. The Board's rating system is in part used to determine the safety and soundness of a financial institution, as well as potential supervisory responses. Fully applying the rating system to both bank holding companies and savings and loan holding companies will help ensure consistent standards and supervision. The proposal would fully apply the rating system to most savings and loan holding companies supervised by the Board. However, it would not apply to savings and loan holding companies engaged in significant insurance or commercial activities. These firms would instead continue to receive indicative ratings. For media inquiries, call 202-452-2955 Attachment (PDF) Related Board Votes

Federal Reserve (2016, December 8). Press Release. Press Releases, Federal Reserve. https://whenthefedspeaks.com/doc/press_release_20161209_federal_reserve_board_invites_comment_on_proposal

@misc{wtfs_press_release_20161209_federal_reserve_board_invites_comment_on_proposal,
  author = {Federal Reserve},
  title = {Press Release},
  year = {2016},
  month = {Dec},
  howpublished = {Press Releases, Federal Reserve},
  url = {https://whenthefedspeaks.com/doc/press_release_20161209_federal_reserve_board_invites_comment_on_proposal},
  note = {Retrieved via When the Fed Speaks corpus}
}