• Service: Tax, U.S. Indirect Tax, Advisory, Risk Consulting, Financial Risk Management
  • Industry: Banking & Capital Markets
  • Type: Publication series
  • Date: 9/27/2011

Regulatory Practice Letter #11-21 

Interim Final Rule Governing Savings and Loan Holding Companies Becomes Effective
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On September 13, 2011 the Federal Reserve Board (“Fed”) published an Interim Final Rule that establishes new Fed Regulations LL and MM to govern savings and loans holding companies (“SLHCs”) and their non-depository subsidiaries in a manner as consistent as practicable with the Fed’s regulation of bank holding companies (“BHCs”). In particular, Regulation LL (Part 238, generally governing SLHCs) and Regulation MM (Part 239, governing SLHCs in mutual form (“Mutual SLHCs”)) implement those regulations previously issued by the Office of Thrift Supervision (“OTS”) that the Fed intends to continue to enforce.