FED is extending the public comment period on a proposal to enhance the effectiveness of boards of directors and on a proposal to better align its rating system for large financial institutions with the post-crisis supervisory program for these firms. The comment period is being extended to November 30, 2017.
FED extended the comment periods to allow interested persons more time to analyze the issues and prepare their comments. Comments on the proposal for boards of directors were earlier due by October 10, 2017 while comments on the rating system proposal were earlier due by October 16, 2017. FED is also seeking comment on proposed revisions to existing provisions in Regulations K and LL to ensure that they would remain consistent with certain features of the proposed rating system. FED proposes to assign initial ratings under the new rating system during 2018.
Related Links (PDFs)
- Press Release
- Proposed Guidance on Supervisory Expectations for Boards of Directors
- Proposal on Large Financial Institution Rating System
Keywords: Americas, US, Banking, Corporate Governance, Rating System, Comment Date Extension, FED
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