As required, the Federal Reserve has published for comment a request to the Office of Management and Budget (OMB) for approval of a proposed information collection related to savings-and-loan holding companies (SLHCs). The notice details new information SLHCs would need to file with the FRB, beginning the process of establishing the new regulatory framework for firms now under Federal Reserve supervision. However, reflecting comments from insurance companies and non-traditional SLHCs (often called grandfathered unitary thrifts), these firms are initially generally exempt from new reporting. Further, all non-exempt SLHCs are given more time to comply with new reports than proposed by the FRB. However, the notice also makes clear that, over time, the FRB intends to conform SLHC rules to those for BHCs, especially with regard to parent-company consolidated capital.
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