On August 12th, the Federal Reserve Board (the "Board") issued an interim final rule establishing regulations for savings and loan holding companies ("SLHCs"). Under the Dodd-Frank Act, supervisory and rulemaking authority for SLHCs and their non-depository subsidiaries transferred from the Office of Thrift Supervision to the Board on July 21, 2011. The interim rule implements the transfer of those regulations from the OTS to the Board. Comments on the interim final rule should be submitted on or before October 27, 2011. The interim rule will be effective upon publication in the Federal Register, which is expected during the week of August 15. The Board also issued an Order delegating to staff and to the Federal Reserve Banks the authority to take certain actions with respect to SLHCs. Federal Reserve Board Press Release.