On September 18, the Federal Reserve, the OCC and the FDIC issued a proposed rule that would revise the definition of High Volatility Commercial Real Estate (“HVCRE”) exposure under the capital rules of each agency to conform to the statutory definition in Section 214 of the Economic Growth, Regulatory Relief, and Consumer Protection Act (“EGRRCPA”) enacted in May 2018. Specifically, the proposal would conform the agencies’ “HVCRE exposure” definitions to the EGRRCPA definition of “high volatility commercial real estate acquisition, development or construction loans.”