* * * * *
(f) * * *
(4) Beginning January 1, 2018, a covered BHC (as defined in Sec. 217.2) is subject to limitations on distributions and discretionary bonus payments in accordance with the lower of the maximum payout amount as determined under Sec. 217.11(a)(2)(iii) and the maximum leverage payout amount as determined under Sec. 217.11(a)(2)(vi).