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Regulators finalize changes to supplementary leverage ratio
The federal bank regulatory agencies (Fed, FDIC, and OCC) have finalized changes to a capital requirement for banking organizations predominantly engaged in custodial activities, as required by the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA). The final rule is unchanged from the proposal issued for public comment in April 2019. It will be effective April 1, 2020.
Based on current data, only The Bank of New York Mellon Corporation, Northern Trust Corporation, and State Street Corporation, together with their depository institution subsidiaries, would be affected by the rule.