“Federal Reserve Board Releases Proposed Rule on Assessments for Bank Holding Companies, Savings and Loan Holding Companies, and Certain Nonbank Financial Companies with $50 Billion or More in Assets”
On April 15, 2013, the Federal Reserve Board (the “FRB”) issued a proposed rule (the “Proposed Rule”) to implement section 318 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which directs the FRB to collect assessments, fees, or other charges equal to the total expenses the FRB estimates are necessary or appropriate to carry out the supervisory and regulatory responsibilities of the FRB for bank holding companies and savings and loan holding companies with total consolidated assets of $50 billion or more and certain nonbank financial companies designated by the Financial
Stability Oversight Council.
This Stroock Special Bulletin summarizes the Proposed Rule. Comments on the Proposed Rule are due on June 15, 2013.