The Federal Reserve Board on Friday launched a data collection to gather more information from the banks affected by the large bank capital proposal it announced earlier this year. When the proposal was announced, the Board indicated that it would undertake this supplemental data collection.
The additional data will further clarify the estimated effects of the proposal and inform any final rule, with summaries to be made public. The submission deadline for the data collection is January 16, 2024.
In July, the Board, along with the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation requested comment on the proposal, which is the last major bank regulatory plank designed to address failures from the global financial crisis of 2007-2008. The proposal only applies to banks with $100 billion or more in total assets and would strengthen the banking system to reduce the risk of costly financial crises.
