On Nov. 17, Fed issued rules regarding delegation of authority.
Fed issued final rule, correcting amendments to delegation of authority, 12 CFR 265.
Added delegations of authority previously approved by Board, technical corrections.
Delegations Building Block Approach Regulation Q
Authority to require a supervised insurance organization to exclude, approve, adjust all or portion of particular company capital element from Building block available capital.
Take certain actions to better reflect the risk profile of an inventory company or the supervised insurance organization, under Regulation Q (12 CFR 217.601(d)).
Ability to require a supervised insurance organization to apply an alternative treatment to a treatment otherwise required; to approve a request to exercise a call option.
To approve request to redeem or repurchase an instrument; to include in building block available capital an instrument issued by company in a supervised insurance org.
Regulation D
Authority to approve the annual indexation of the reserve requirement exemption amount, low reserve tranche amount under Regulation D, 12 CFR 204 .
Authority is applicable only if no change is proposed to any of the formulas by which the reserve requirement exemption or reserve tranche amount are calculated.
Effectiveness
Revisions are effective on the date of publication, Nov. 17, 2023.
