Federal Reserve Board announces it will extend Comment Period for Proposal to Implement a Framework for the Supervision of certain Insurance Organizations overseen by the Board until May 5, 2022 | site |

Information contained in Board of Governors press release dated: March 25, 2022

The Federal Reserve Board announced on Friday that it will extend until May 5, 2022, the comment period for its proposal to implement a framework for the supervision of certain insurance organizations overseen by the Board. The Board extended the comment period to allow parties additional time to prepare comments. Originally, comments were due by April 5, 2022.

The proposed framework would apply to any depository institution holding company that is an insurance underwriting company or that has over 25 percent of its consolidated assets held by insurance underwriting subsidiaries. It would also formalize a supervisory rating system for these companies and describe how examiners work with state insurance regulators.

Federal Register notice: Framework for the Supervision of Insurance Organizations; Extension of Comment Period