Federal Reserve Invites Public Comment – Insurance

Federal Reserve Board invites public comment on proposed guidance to implement a framework for the supervision of certain insurance organizations overseen by the Board

Washington, DC (STL.News) The Federal Reserve Board on Friday invited public comment on proposed guidance to implement a framework for the supervision of certain insurance organizations overseen by the Board.

The proposed supervisory framework—for depository institution holding companies significantly engaged in insurance activities—would apply guidance and allocate supervisory resources based on the risk of a firm. It would also formalize a supervisory rating system for these companies and describe how examiners work with state insurance regulators.

The proposed guidance would apply to any depository institution holding company that is an insurance underwriting company or that has over 25 percent of its consolidated assets held by insurance underwriting subsidiaries.

SOURCE: Federal Reserve

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