Federal Register #R-1895

Federal Reserve Proposed Rulemaking: Modernization of Mutual Holding Company Regulations

This opportunity concerns a proposed regulatory update by the Board of Governors of the Federal Reserve System regarding mutual holding companies (MHCs): - Government Buyer: - Board of Governors of the Federal Reserve System - No OEMs or vendors are mentioned, as this is a regulatory action, not a procurement - No products or services are being requested - Key regulatory changes proposed: - Updates to Regulation MM (12 CFR part 239) governing MHCs - Elimination of certain dividend waiver requirements - Reduction of burdens for mutual-to-stock conversions - Revision of post-conversion restrictions - Removal of federal charter requirement for subsidiary holding companies - Clarification of regulatory provisions - Amendments to the capital rule (12 CFR part 217) to clarify treatment of mutual capital instruments - Codification of model term sheets for mutual capital certificates - No purchase quantities, part numbers, or procurement-specific requirements are included - This is a notice of proposed rulemaking, not a solicitation for goods or services

Description

The Board of Governors of the Federal Reserve System has issued a notice of proposed rulemaking to modernize the regulatory framework for mutual holding companies (MHCs). The proposal includes revisions to Regulation MM to eliminate certain dividend waiver requirements, reduce burdens associated with conversions from mutual-to-stock form, revise post-conversion restrictions, eliminate the requirement for subsidiary holding companies of MHCs to obtain federal charters, and clarify other provisions. Additionally, amendments to the capital rule will clarify that certain mutual capital instruments may qualify as regulatory capital and codify model term sheets for mutual capital certificates. Comments on the proposal are due by October 5, 2026.

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