The Board of Governors of the Federal Reserve System has issued a notice to seek public feedback on a proposal to continue, for three more years without changes, the recordkeeping requirements related to interbank liabilities. These requirements are detailed under Regulation F and are intended to limit the credit exposure of insured depository institutions to other banks to reduce risk. Public comments are invited on various aspects of the proposal, including its necessity, the estimated burden on respondents, and possible ways to improve or streamline the data collection process. The deadline for submitting comments is April 5, 2021.
Simple Explanation
The Federal Reserve wants to hear what people think about keeping the rules for banks when they lend money to each other, to help make sure they don't take on too much risk. They are asking for ideas on how to make these rules easier, and everyone has until April 5, 2021, to share their thoughts.