Comments due on Fed proposal to amend Reg EE
The Federal Reserve Board has published in today's Federal Register [84 FR 18741, May 2, 2019] proposed amendments to Regulation EE (12 CFR part 231 — Netting Eligibility for Financial Instiitutions) that would include certain new entities in the definition of “financial institution” contained in section 402 of the Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA) so that they will be covered by FDICIA’s netting provisions. The proposal would also clarify how the existing activities-based test in Regulation EE applies following a consolidation of legal entities. Comments will be accepted through July 1, 2019.
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