From: FDIC Subscriptions <subscriptions@fdic.gov>
Date: Mon, Jul 21, 2014 at 2:26 PM
Subject: Regulatory Capital Rules: Requests from S-Corporation Banks for Dividend Exceptions to the Capital Conservation Buffer
To: iammejtm@gmail.com
Financial Institution Letter
| Regulatory Capital Rules: Requests from S-Corporation Banks for Dividend Exceptions to the Capital Conservation Buffer | FIL-40-2014 7/21/2014 |
| Summary: | This Financial Institution Letter (FIL) describes how the FDIC will consider requests from S-corporation banks or savings associations (henceforth, "banks") to pay dividends to shareholders to cover taxes on their pass-through share of the bank's earnings, when these dividends would otherwise not be permitted under the capital conservation buffer requirements in the Basel III rule. As described in more detail in this FIL, absent significant safety-and-soundness concerns about the requesting bank, the FDIC generally would expect to approve exception requests by well-rated S-corporation banks that are limited to the payment of dividends to cover shareholders' taxes on their portion of an S-corporation's earnings. Statement of Applicability to Institutions with Total Assets Under $1 Billion: This FIL is applicable to all FDIC-supervised S-corporation banks. |
Distribution:
FDIC-Supervised Banks and Savings Associations
Complete Financial Institution Letter: http://www.fdic.gov/news/news/financial/2014/fil14040.html
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Jeremy Tobias Matthews
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