On Oct. 30, 2015, the Federal Reserve Board issued a proposed rule requiring global systemically important banks (GSIBs) to meet new requirements to maintain a “total loss-absorbing capacity” (TLAC) ratio that can be met by a combination of additional regulatory capital and unsecured long-term debt.1
This proposal would apply to both U.S. bank holding companies classified as GSIBs and the U.S. operations of non-U.S. banking organizations classified as GSIBs. It is aimed at strengthening the resiliency of the GSIBs on an ongoing basis while providing for a more orderly resolution if a GSIB should fail. Comments are due on or before Feb. 1, 2016. Compliance is proposed to begin Jan. 1, 2019, and be fully phased-in by Jan. 1, 2022.
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