Single-Counterparty Credit Limits

The FR 2590 was implemented in connection with the Board’s single-counterparty credit limits rule (SCCL rule), codified in the Board’s Regulation YY - Enhanced Prudential Standards (12 CFR Part 252). The information collected by the Single-Counterparty Credit Limits reporting form allows the Board to monitor a covered company’s or a covered foreign entity’s compliance with the SCCL rule. A covered company is any U.S. bank holding company (BHC) or savings and loan holding company (SLHC) that is subject to Category I, II, or III standards. A covered foreign entity is a foreign banking organization (FBO) that is subject to Category II or III standards or that has total global consolidated assets of $250 billion or more, and any U.S. intermediate holding company (IHC) that is subject to Category II or III standards. In addition to the reporting form, the FR 2590 information collection incorporates notice requirements pertaining to requests that may be made by a covered company or covered foreign entity to request temporary relief from specific requirements of the SCCL rule. A respondent must retain one exact copy of each completed FR 2590 report in electronic form and these records must be kept for at least three years.

The latest form for Single-Counterparty Credit Limits expires 2023-12-31 and can be found here.

Reporting One-time implementation

Federal Enterprise Architecture: Economic Development - Financial Sector Oversight

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