The Board of Governors of the Federal Reserve System adopted a rule to prohibit certain financial companies (mostly insured depository institutions) from merging, acquiring or otherwise consolidating with another company if the surviving entity is too big. Under the new rule, being too big happens if the surviving company’s liabilities immediately after the deal exceeded 10 percent of the aggregate liabilities of all financial companies. This new rule is effective January 1, 2015, and implements a requirement under the Dodd-Frank Wall Street Reform and Consumer Protection Act.