WASHINGTON - Thrifts and their holding companies will have more time to comment on a complicated proposal to increase holding company oversight.
The Office of Thrift Supervision on Thursday extended the comment period to Feb. 9 on the proposal, which would require certain thrift holding companies to give 30 days' notice before significantly increasing debt, reducing capital substantially, or acquiring certain assets to ensure they are not putting their affiliates at risk.
The proposal also would create tailored capital standards for parent holding companies. The original Dec. 26 deadline to comment on it was causing problems because it fell during the holidays.
These things would "change fundamentally how the OTS regulates holding companies," so all parties need adequate time to address it, said Charlotte Bahin, director of regulatory affairs for America's Community Bankers.
Regulators are meeting with industry groups such as the ACB, the American Bankers Association, and the Financial Services Roundtable to explain the proposal and get feedback, said OTS Deputy Director Richard M. Riccobono. "We need more time as much as they do," he said.
