Federal Reserve Proposes Regulatory Capital Framework for Insurance Depository Institution Holding Companies: FRB Issues Notice of Proposed Rulemaking to Establish Capital Requirements for Savings and Loan Holding Companies Significantly Engaged in Insurance

Sullivan & Cromwell LLP - October 10, 2019
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The Board of Governors of the Federal Reserve System issued last month a notice of proposed rulemaking that would establish capital requirements for insurance groups that own depository institutions.  The proposed capital requirements would apply to any top-tier depository institution holding company that is itself an insurance underwriting company and to any top-tier depository institution holding company that, together with its subsidiaries, holds 25% or more of its total consolidated assets in insurance underwriting subsidiaries.