As a public service, the Federal Reserve Bank of St. Louis tracks the latest significant rules and interpretations affecting depository institutions and their holding companies.
While the St. Louis Fed updates this information regularly, updates correlate with official publication in the Federal Register or agency press releases, where appropriate. Updates include links to published material and federal agency websites.
Although this page attempts to capture significant rulemakings, it does not include all federal registration, guidance, proposals, studies and reports. For example, Federal Register notices pertaining to meetings, roundtable discussions, data collections, studies, reports and similar matters are not included.
Rules and guidance are issued by the following federal agencies responsible for bank supervision:
Rulemaking is the process by which federal agencies implement laws passed by Congress and signed into law by the president. Since these statutes are broadly drafted to establish basic principles and objectives, agencies must further refine this legislation to ensure that the intent of Congress is carried out in specific circumstances. Here's an overview of the journey from start to finish:
Optional: Request for Information
The rulemaking process usually begins with a rule proposal, but sometimes an issue is so unique or complicated that the agency seeks public input on which, if any, regulatory approach is appropriate. A concept release is then published, which often seek the views of the public in deciding the best approach.
Open for comment
The regulatory agency publishes a detailed formal rule proposal for public comment in the Federal Register. Defined objectives and requirements to implement the law are defined. The public is encouraged to submit its comments during this period, which is usually between 30 and 60 days after the posting of the rule. The ability to gather comments from the public during this period is considered a vital part of effective rulemaking.
Once the open-for-comment period ends, the rule moves into proposed rule status until it is acted upon during the fourth leg of the journey.
Incorporating the input of comments from the public, the regulatory agency then publishes the final rule in the Federal Register. It becomes applicable to those covered by the rule on the dates specified.