Community Bank Capital Requirements: FDIC Adopts Final Rule Simplifying Capital Requirements for Qualifying Community Banking Organizations

Sullivan & Cromwell LLP - September 30, 2019
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On September 17, the FDIC unanimously adopted a final rule that simplifies capital requirements for certain community banking organizations with less than $10 billion in total consolidated assets, which implements Section 201 of the Economic Growth, Regulatory Relief, and Consumer Protection Act of 2018. The rulemaking finalizes, with a number of important modifications and clarifications, the interagency proposal published by the FDIC, the Federal Reserve and the OCC in February of 2019.