OCC Revises Process for Matters Requiring Attention
On October 30, the OCC published revised policies and procedures for how it manages Matters Requiring Attention (MRA) resulting from its examination of supervised institutions. MRAs communicate supervisors' concerns identified during examinations. The updated guidance standardizes MRA terminology, format, follow-up, analysis, and reporting across the agency. Release. OCC MRA Bulletin.
FHFA Index Shows Mortgage Interest Rates Continue To Decline
On October 30, the index of interest rates published by the FHFA on conventional purchase-money mortgages decreased slightly from August to September from 4.08% to 4.06%. Release.
FDIC Releases National Survey of Unbanked and Underbanked
On October 29, the FDIC released the results of the 2013 FDIC National Survey of Unbanked and Underbanked Households. The survey indicates that the proportion of unbanked households declined from 8.2% in 2011 to 7.7% in 2013. Release. Survey.
Fed Issues Final Rule to Amend Regulation HH and Payment System Risk Policy
On October 28, the Federal Reserve Board issued a final rule that amends the Regulation HH risk-management standards for companies that have been designated as systemically important by the Financial Stability Oversight Council and for which the Fed has standard-setting authority pursuant to Title VIII of Dodd-Frank. Key changes include establishing separate standards to address credit risk and liquidity risk, new requirements on recovery and orderly wind-down planning, a new standard on general business risk, a new standard on tiered participation arrangements, and increased requirements on transparency and disclosure. Release. Final Rule. Policy Statement.
|