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Financial Institution Letter |
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Final Rule: Total Loss Absorbing Capital (TLAC) Holdings |
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Summary:
The federal bank regulatory agencies have issued a joint final rule that amends the capital rule to require advanced approaches banking organizations to deduct from regulatory capital certain investments in unsecured debt instruments issued by global systemically important banks (GSIBs) and certain subsidiaries of GSIBs that are issued for the purpose of meeting minimum long-term debt or TLAC requirements (i.e., covered debt instruments).
A copy of the final rule can be found on the FDIC’s website
Statement of Applicability to Institutions with Total Assets Under $1 Billion:
This Financial Institution Letter (FIL) is only applicable to advanced approaches banking organizations.
Distribution:
FDIC-Supervised Institutions
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