Corporate and Financial Weekly Digest - November 2, 2012


In this issue:

- CFTC Issues Interpretive Letter Regarding Cleared Swaps Customer Collateral

- CFTC Grants Temporary No-Action Relief from Certain Recordkeeping Requirements for Swap Dealers and Major Swap Participants

- CFTC Delays the Compliance Date for the Cleared Swaps Collateral Rules

- CFTC’s Global Markets Advisory Committee to Discuss Cross-Border OTC Derivatives Issues

- Assertion of Common Interest Doctrine and Business Strategy Privilege Rejected

- Second Circuit Holds That Argentinean National Bank Is Not Alter Ego of Argentina

- Federal Reserve Sets New Pricing for Services

- Federal Reserve Delays Implementation of Second Phase of Reserve Requirement Simplification

- OCC Comptroller Curry Delivers Risk Management Remarks

- Supreme Court Allows Favorable Employer Stock Ruling to Stand

- FSA Announces Interim Short Sale Reporting Channel

- ESMA Approves Spanish and Greek Short Sales Bans

- An excerpt from "Federal Reserve Sets New Pricing for Services"

On October 31, the Board of Governors of the Federal Reserve System (Federal Reserve) announced new fees for services provided to depository institutions by the Federal Reserve Banks. This action is required each year pursuant to the Monetary Control Act of 1980. The fees are set to recover, over the long run, "all direct and indirect costs and imputed costs, including financing costs, taxes, and certain other expenses, as well as the return on equity (profit) that would have been earned if a private business firm provided the services." The new fees will be posted here over the next several days. Among other things, prices for the following services are generally due to increase: checks, FedACH, FedWire, FedWire Securities and FedLine Access Solutions.

Please see full newsletter below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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