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Agencies Share Impact of EGRRCPA
On Friday, July 6, 2018, the Federal banking agencies issued a statement detailing rules and associated reporting requirements that are immediately affected by the enactment of the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA).
These changes affect company-run stress testing, resolution plans, the Volcker rule, high volatility commercial real estate exposures, examination cycles, municipal obligations as high-quality liquid assets, and other provisions.
The statement from the Federal Reserve Board, the FDIC, and the OCC describes interim positions the regulatory agencies will take before incorporating the changes into their regulations.