The Single-Counterparty Credit Limits Reporting Form (“FR 2590”) provides the Federal Reserve with information to monitor a covered company’s or a cov-ered foreign entity’s compliance with the single-counterparty credit limits (“SCCL”) rule.

The Board's SCCL rule applies a single-counterparty credit limit to covered companies and covered foreign entities using a base of tier 1 capital and applies an additional single-counterparty credit limit for exposures between major counterparties, as defined in the SCCL rule.

(1) This subpart establishes single counterparty credit limits for a covered company. (2) For purposes of this subpart: (i) Covered company means: (A) A global systemically important BHC; (B) A Category II bank holding company; and. (C) A Category III bank holding company;

Application of SCCL requirements for intermediate holding companies (IHCs) of foreign banking organizations (FBOs) is now based on the risk profile of the US IHCs instead of the risk profile of the foreign bank’s combined US operations (CUSO).

The credit limits of the SCCL rule applies to aggregate net credit exposure, which means the sum of all net credit exposures of a covered company and all of its subsidiaries to a single counterparty, including all of its affiliates.

Aug 6, 2018 · The SCCL for U.S. IHCs that are covered foreign entities are largely unchanged from the proposal and fall into three tailored tiers. These limits are summarized in Table 2 below.

executive responsible for single-counterparty credit limits compliance, chief financial officer, or an individual performing this equivalent function. is subject to Category II or III standards (each a “covered entity”). information unless it displays a currently valid OMB control number.

May 28, 2020 · On August 6, 2018, the Board published in the Federal Register a final rule to establish single-counterparty credit limits (SCCL) for bank holding companies and foreign banking organizations (FBOs) with total consolidated assets of at least $250 billion, pursuant to section 165 (e) of the Dodd-Frank Wall Street Reform and Consumer Protection Act...

The Board’s SCCL rule applies a single-counterparty credit limit to covered companies and covered foreign entities, generally using a base of tier 1 capital, and applies an additional single-counterparty credit limit for exposures between major counterparties. 5 The SCCL rule

SCCL rule established separate SCCL applicable to (1) the combined U.S. operations of an FBO that is subject to Category II or III standards or that has total global consolidated assets of $250 billion or more, and (2) any U.S. intermediate holding company (IHC) that is subject to Category II or III standards. With respect to the SCCL