Financial Regulatory Developments Focus - January 2015 #3

In this issue:

- US Office of the Comptroller of the Currency Releases Community Reinvestment Act Evaluations

- Amendment to Regulation on Supervisory Reporting of Institutions on Asset Encumbrance, Single Data Point Model and Validation Rules

- European Banking Authority Amended Draft Final Regulatory Technical Standards on Prudential Valuation

- UK Regulatory Publishes Updated Version of Supervisory Statement on Third-Country Equivalence Aspects of Credit Risk Provisions

- Basel Committee Work Program for 2015 and 2016

- Basel Committee Second Progress Report on Adoption of Principles for Effective Risk Data Aggregation and Risk Reporting

- US Consumer Financial Protection Bureau Finalizes Minor Changes to “Know Before You Owe” Mortgage Rules

- US Commodity Futures Trading Commission Issues No-Action Relief to Introducing Brokers

- UK Financial Conduct Authority Takes Further Action for Misconduct relating to LIBOR

- US Federal Reserve Issues “Strategies for Improving the US Payment System”

- Amendment to Regulation on Notification of Significant Net Short Positions in Sovereign Debt

- Financial Conduct Authority Finalised Guidance on Retail Investment Advice

- UK Government Publishes Draft Legislation on Criminal Sanctions for Insider Dealing and Market Manipulation in the Wholesale Energy Markets

- Proposals to Reform the UK Financial Services Trade Association Published

- Regulation Implementing Conditions for Contributions to the EU Single Resolution Fund Published

- ISDA Proposes CCP Recovery and Continuity Framework

- Federal Reserve Bank of New York

- US Securities and Exchange Commission

- US Consumer Financial Protection Bureau

- Excerpt from US Office of the Comptroller of the Currency Releases Community Reinvestment Act Evaluations:

On January 23, 2015, the US Office of the Comptroller of the Currency released a list of Community Reinvestment Act (“CRA”) performance evaluations that became public during the period of December 1, 2014 through December 31, 2014. The CRA requires each federal bank regulatory agency to assess each federally insured institution's record of helping to meet the credit needs of its entire community, consistent with safe and sound lending...

Please see full publication 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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