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Federal Reserve Releases Final Tailoring Rules

October 18, 2019, Covington Alert

On October 10, 2019, the Board of Governors of the Federal Reserve System (“Board”) released two final rules to tailor and modify the applicability of enhanced prudential standards for bank holding companies (“BHCs”), savings and loan holding companies that are not substantially engaged in insurance underwriting or commercial activities (“Covered SLHCs”), foreign banking organizations (“FBOs”), and the U.S. intermediate holding companies of FBOs (“IHCs”).

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