Comments due on agencies' muni securities rule

On October 22, 2018. the Fed, FDIC, and OCC issued a joint press release announcing an interim final rule amending the agencies' liquidity rules to treat certain eligible municipal securities as high-quality liquid assets, as required by the Economic Growth, Regulatory Relief, and Consumer Protection Act of 2018 (EGRRCPA). The EGRRCPA requires the agencies to treat a municipal obligation as a high-quality liquid asset (HQLA) under their liquidity coverage ratio rules if that obligation is considered "liquid and readily-marketable" and "investment grade." The FDIC issued FIL-43-2018 regarding the action. Comments on the interim final rule will be accepted for 30 days following publication in the Federal Register.

UPDATE: Published at 83 FR 44451 on 8/31/18, with a 31-day comment period ending 10/1/18.