On March 2, the Federal Reserve announced that it has extended until April 30 the deadline for submitting comments on proposed rulemaking for public comment to implement the enhanced prudential standards required to be established under section 165 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act) and the early remediation requirements established under section 166 of the Act.
This follows action taken by the Federal Reserve on January 5, when it published in the Federal Register a notice of the request for comments to be due on March 31. The enhanced standards include risk-based capital and leverage requirements, liquidity standards, requirements for overall risk management (including establishing a risk committee), single-counterparty credit limits, stress test requirements, and a debt-to-equity limit for companies that the Financial Stability Oversight Council has determined pose a grave threat to financial stability.
The Federal Reserve release stated that "due to the range and complexity of the issues addressed in the rulemaking, the Board has determined that an extension of the end of the public comment period from March 31, 2012, until April 30, 2012, is appropriate."
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