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Joint Release

Board of Governors of the Federal Reserve System

Federal Deposit Insurance Corporation

Office of the Comptroller of the Currency

Agencies Issue Interim Final Rule Regarding the Treatment of Certain Municipal Securities as High-Quality Liquid Assets

August 22, 2018

For Immediate Release

WASHINGTON—Three federal banking agencies today issued an interim final rule amending the agencies' liquidity rules to treat certain eligible municipal securities as high-quality liquid assets, as required by the Economic Growth, Regulatory Relief, and Consumer Protection Act of 2018 (EGRRCPA).

The EGRRCPA requires the agencies to treat a municipal obligation as a high-quality liquid asset (HQLA) under their liquidity coverage ratio rules if that obligation is considered "liquid and readily-marketable" and "investment grade."

This interim final rule takes effect upon publication in the Federal Register and comments will be accepted for 30 days after the interim final rule's publication in the Federal Register .

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Last Updated: August 22, 2018