Section 1240.4 - Transition(a)Compliance dates. An Enterprise will not be subject to any requirement under this part until the compliance date for the requirement under this section.(b)Reporting requirements.(1) For any reporting requirement under § 1240.1(f) or § 1240.41 , the compliance date will be January 1, 2022.(2) For any reporting requirement under §§ 1240.61 through 1240.63 , the compliance date will be no later than 10 business days after an Enterprise files its Annual Report on SEC Form 10-K for the fiscal year ending December 31, 2022.(3) For any reporting requirement under § 1240.205 , the compliance date will be no later than 10 business days after an Enterprise files its Annual Report on SEC Form 10-K for the fiscal year ending December 31, 2022.(c)Advanced approaches requirements. Any requirement under subpart E or F (other than § 1240.162(d) or any requirement to calculate the standardized measure for spread risk under § 1240.204 ) will have a compliance date of the later of January 1, 2028 and any later compliance date for that requirement provided in a transition order applicable to the Enterprise.(d)Capital requirements and buffers -(1)Requirements. The compliance date of any requirement under § 1240.10 will be the later of: (i) The date of the termination of the conservatorship of the Enterprise (or, if later, the effective date of this part); and(ii) Any later compliance date for § 1240.10 provided in a transition order applicable to the Enterprise.(2)Buffers. The compliance date of any requirement under § 1240.11 will be the date of the termination of the conservatorship of the Enterprise (or, if later, the effective date of this part).(3)Capital restoration plan. If a transition order of an Enterprise provides a compliance date for § 1240.10 , the Director may determine that, for the period between the compliance date for § 1240.11 under paragraph (d)(2) of this section and any later compliance date for § 1240.10 provided in the transition order-(i) The prescribed capital conservation buffer amount of the Enterprise will be the amount equal to the sum of- (A) The common equity tier 1 capital that would otherwise be required under § 1240.10(d) ; and(B) The prescribed capital conservation buffer amount that would otherwise apply under § 1240.11(a)(5) ; and(ii) The prescribed leverage buffer amount of the Enterprise will be equal to 4.0 percent of the adjusted total assets of the Enterprise.(4)Prudential standard. If the Director makes a determination under paragraph (d)(3) of this section, § 1240.11 will be a prudential standard adopted under section 1313B of the Safety and Soundness Act (12 U.S.C. 4513b ) until the compliance date of § 1240.10 . 85 FR 82198 , Dec. 17, 2020, as amended at 87 FR 33429 , June 2, 2022 85 FR 82198 , 2/16/2021; 87 FR 33429 , 8/1/2022; 88 FR 83476 , 4/1/2024