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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 12 - Banks and Banking |
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Chapter II - Federal Reserve System |
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SubChapter A - Board of Governors of the Federal Reserve System |
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Part 249 - Liquidity Risk Measurement Standards (Regulation Ww) |
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Subpart F - Transitions |
§ 249.50 - Transitions.
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§ 249.50 Transitions.
Link to an amendment published at 84 FR 59275, Nov. 1Cross Reference
(a) No transitions for certain Board-regulated institutions. A Board-regulated institution that is subject to the minimum liquidity standards and other requirements of this part immediately prior to December 31, 2019 must comply with the requirements of this part as of December 31, 2019.
a) Covered depository institution holding companies with $700 billion or more in total consolidated assets or $10 trillion or more in assets under custody. For any depository institution holding company that has total consolidated assets equal to $700 billion or more, as reported on the company's most recent Consolidated Financial Statements for Holding Companies (FR Y-9C), or $10 trillion or more in assets under custody, as reported on the company's most recent Banking Organization Systemic Risk Report (FR Y-15), and any depository institution that is a consolidated subsidiary of such depository institution holding company that has total consolidated assets equal to $10 billion or more, as reported on the most recent year-end Consolidated Report of Condition and Income: (1) Beginning January 1, 2015, through June 30, 2015, the Board-regulated institution must calculate and maintain a liquidity coverage ratio monthly, on each calculation date that is(
,b) Transitions for certain U.S. intermediate holding companies. A U.S. intermediate holding company that initially becomes subject to this part on December 31, 2019 does not need to comply with the minimum liquidity standard of § 249.10 or with the public disclosure requirements of § 249.90 until December 31, 2020, at which time the U.S. intermediate holding company must comply with the minimum liquidity standard of § 249.10 each business day (or, in the case of a Category IV Board-regulated institution, on the last business day of the applicable calendar month
that is equal to or greater than 0.80.) in accordance with this part,
(3) Beginning January 1, 2016, through December 31, 2016, the Board-regulated institution must(2) Beginning July 1, 2015 through December 31, 2015, the Board-regulated institution must calculate and maintain a liquidity coverage ratio on each calculation date in accordance with this part that is equal to or greater than 0.80.
and with the public disclosure requirements of § 249.90.
in accordance with this part that is equal to or greater than 0.90. (4) On January 1, 2017, and thereafter, the Board-regulated institution must(c) Initial application.
(1) A Board-regulated institution that initially becomes subject to the minimum liquidity standard and other requirements of this part under § 249.1(b)(1)(i) or (ii) after December 31, 2019, must comply with the requirements of this part beginning on the first day of the third calendar quarter after which the Board-regulated institution becomes subject to this part, except that a Board-regulated institution that is not a Category IV Board-regulated institution must:
(i) For the first two calendar quarters after the Board-regulated institution begins complying with the minimum liquidity standard and other requirements of this part, calculate and maintain a liquidity coverage ratio monthly, on each calculation date
that is equal to or greater than 1that is the last business day of the applicable calendar month; and
(ii) Beginning the first day of the fifth calendar quarter after the Board-regulated institution becomes subject to the minimum liquidity standard and other requirements of this part and continuing thereafter, calculate and maintain a liquidity coverage ratio on each calculation date
0..
b(
Other2)
institutions. For any Board-regulated institutionA Board-regulated
ainstitution that becomes subject to
underthe minimum liquidity standard
not described in paragraph (a) of this section:and other requirements of this part
(1) Beginning January 1, 2015, through December 31, 2015, the Board-regulated institution must calculate and maintain a liquidity coverage ratio monthly, on each calculation date that is the last business day of the applicable calendar month, in accordance with this part, that is equal to or greater than 0.80.
(2) Beginning January 1, 2016, through June 30, 2016, the Board-regulated institution must calculate and maintain a liquidity coverage ratio monthly, on each calculation date that is the last business day of the applicable calendar month, in accordance with this part, that is equal to or greater than 0.90.
(3) Beginning July 1, 2016, through December 31, 2016, the Board-regulated institution must calculate and maintain a liquidity coverage ratio on each calculation date in accordance with this part that is equal to or greater than 0.90.
(4) On January 1, 2017, and thereafter, the Board-regulated institution must calculate and maintain a liquidity coverage ratio on each calculation date that is equal to or greater than 1.0.
under § 249.1(b)(1)(iii) must comply with the requirements of this part subject to a transition period specified by the Board.
(d) Transition into a different outflow adjustment percentage.
(1) A Board-regulated institution whose outflow adjustment percentage changes is subject to transition periods as set forth in § 249.30(d).
(2) A Board-regulated institution that is no longer subject to the minimum liquidity standard and other requirements of this part pursuant to § 249.1(b)(1)(i) or (ii) based on the size of total consolidated assets, cross-jurisdictional activity, total nonbank assets, weighted short-term wholesale funding, or off-balance sheet exposure calculated in accordance with the Call Report, instructions to the FR Y-9LP or the FR Y-15 or equivalent reporting form, as applicable, for each of the four most recent calendar quarters may cease compliance with this part as of the first day of the first quarter after it is no longer subject to § 249.1(b).
(e) Reservation of authority. The Board may extend or accelerate any compliance date of this part if the Board determines that such extension or acceleration is appropriate. In determining whether an extension or acceleration is appropriate, the Board will consider the effect of the modification on financial stability, the period of time for which the modification would be necessary to facilitate compliance with this part, and the actions the Board-regulated institution is taking to come into compliance with this part.
[84 FR 59275, Nov. 1, 2019]