Regulatory Modernization and Relief for Mutual Holding Companies

What it does

The Board invites comment on a notice of proposed rulemaking (proposal) to modernize the regulatory framework applicable to mutual holding companies (MHCs), primarily through proposed revisions to Regulation MM (12 CFR part 239), which governs the formation, operations, activities, and conversion of savings and loan holding companies in mutual form. The proposal would amend Regulation MM by, among other things, eliminating certain dividend waiver requirements, reducing burden associated with conversions from mutual-to-stock form, revising certain post-conversion restrictions, eliminating the requirement that subsidiary holding companies of MHCs obtain federal charters, and revising and clarifying other provisions of the regulation. The proposal also would amend the capital rule (12 CFR part 217) to clarify that certain mutual capital instruments may qualify as regulatory capital and to codify model term sheets for mutual capital certificates as appendices to the regulation.

The Federal Reserve System's summary, as published in the Federal Register.

What it would change

2 parts of Title 12 of the Code of Federal Regulations:

12 CFR 217, 12 CFR 239

Before this

No earlier Federal Register document under regulation identifier 7100-AH26 since Jan. 1, 2025.

What happens next and when

Comments must be submitted by October 5, 2026.

The agency's dates, word for word.

Check it yourself

• The document in the Federal Register
• Title 12 on eCFR

The record as published

Source: the Federal Register (public domain). The document in the Federal Register