On April 1, BPI submitted a comment letter to the Federal Reserve, OCC, and the FDIC on the agencies’ proposal to increase the thresholds for the major assets prohibition in the Depository Institution Management Interlocks Act regulations. The letter expresses support for the agencies’ proposal to increase the major assets thresholds to $10 billion. In addition, the letter encourages the agencies to adjust the thresholds annually based on the asset growth of U.S. depository organizations and to expand the exemptions from the applicability of the prohibitions in the regulation.
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