WASHINGTON, Aug. 4 -- Federal Reserve System has issued a proposed rule called: Regulatory Modernization and Relief for Mutual Holding Companies.
The proposed rule was published in the Federal Register on Aug. 4 by Benjamin W. McDonough, Secretary of the Board.
Summary: The Board invites comment on a notice of proposed rulemaking (proposal) to modernize the regulatory framework applicable to mutual holding companies (MHCs), primarily through proposed revisions to Regulation MM (12 CFR part 239), which governs the formation, operations, activities, and conversion of savings and loan holding companies in mutual form. The proposal would amend Regulation MM by, among other things, eliminating certain dividend waiver requirements, reducing bur...