Capital-Plan Reg Goes Final without Clue to New Framework
The Federal Register today includes the FRB’s final rule on capital planning and stress testing requirements for large BHCs, IHCs, and SLHCs, setting the effective date now for April 5. As noted in our in-depth report (see FSM Report CAPITAL227), it aligns the capital-planning rule with the tailoring and SCB standards, providing considerable relief to Category IV BHCs, but tough new rules for Category II, II, or IV SLHCs. IHCs retain their flexibility in determining how they upstream capital to parents.

HFSC Dems Hint at New 13(3) Facility Push
HFSC’s committee memorandum for tomorrow’s full committee hearing on the need for additional stimulus largely echoes many of the Biden stimulus plan’s provisions, detailing proposals such as direct stimulus payments, extended forbearance for federally-guaranteed mortgages, assistance for state and local governments, and continued unemployment benefits.