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Supplementary leverage ratio temporarily changed

On Friday, the Federal Reserve, FDIC, and OCC issued a joint press release announcing temporary changes to their supplementary leverage ratio rule. The temporary modifications will provide flexibility to certain depository institutions to expand their balance sheets in order to provide credit to households and businesses in light of the challenges arising from the coronavirus response. The interim final rule permits depository institutions to choose to exclude U.S. Treasury securities and deposits at Federal Reserve Banks from the calculation of the supplementary leverage ratio. If a depository institution does change its supplementary leverage ratio calculation, it will be required to request approval from its primary federal banking regulator before making capital distributions, such as paying dividends to its parent company, as long as the exclusion is in effect.

Comments on the interim final rule will be accepted for 45 days following publication of the rule in the Federal Register. The Federal Reserve Board also asked for comment on additional questions on the interim final rule.

PUBLICATION UPDATE: Published on June 1, 2020, at 85 FR 32980. Effective on publication. Comments due by July 16, 2020.

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