The Federal Reserve, the central bank of the United States, provides the nation with a safe, flexible, and stable monetary and financial system.
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On August 6, 2018, the Board published a final rule in the Federal Register (83 FR 38460) regarding Single-Counterparty Credit Limits for Bank Holding Companies and Foreign Banking Organizations (final SCCL rule), which was modified by the Board's recent rule establishing risk-based categories for determining prudential standards for large U.S. banking organizations and foreign banking organizations. The Board is requesting comment on a proposed amendment that would modify these initial compliance dates to July 1, 2021, and January 1, 2022, respectively, regarding the SCCL applicable to a foreign banking organization's combined U.S. operations only.
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