News & Analysis as of

Federal Reserve

The End of Days (Or At Least LIBOR)

by Dechert LLP on

You know, sometimes life’s problems smack you against the side of the head like a 2×4, and sometimes it’s just a multiplicity of middling offenses that become so annoying that you might just want to roll over and die. Think...more

D.C. District Court Allows Payday Lenders’ Due Process Claims To Proceed In Case Against “Operation Choke Point”

by Ballard Spahr LLP on

On July 5, 2017, the U.S. District Court for the District Columbia, in the lawsuit filed in 2014 challenging “Operation Choke Point” — a federal enforcement initiative involving various agencies, including the Consumer...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Big American banks (BofA, Citi, Morgan Stanley) are avoiding deals with Chinese conglomerate HNA Group over concerns regarding HNA’s debt level and ownership structure....more

Orrick's Financial Industry Week In Review

Federal Reserve and FDIC Post Resolution Plans for Eight Major Financial Firms - On July 5, 2017, the Federal Reserve Board (the "Board") and the Federal Deposit Insurance Corporation ("FDIC") posted the public portions of...more

Federal Reserve Releases Results of CCAR

On June 28, 2017, the Federal Reserve Board announced that it has completed its annual review of the capital planning processes and capital adequacy of the largest U.S.-based bank holding companies and did not object to the...more

Nutter Bank Report, June 2017

Supreme Court: Bank That Buys Debt for Its Own Account Is Not Debt Collector - The U.S. Supreme Court recently held that a bank that collects on debts it has bought and holds “for its own account” is not a debt collector...more

New Broad Treasuries Repo Rate “Best Practice” Benchmark

by Bryan Cave on

On June 22, the Alternative Reference Rates Committee (the “ARRC”) identified a broad Treasuries repo financing rate (the “Broad Treasuries Financing Rate”) that, according to the ARRC, in its consensus view represents best...more

Federal Reserve Bank Report Examines the Effects of US Leveraged Lending Guidance on the Banking Industry

by Miles & Stockbridge P.C. on

Following the global financial crisis of 2007-2009, the Board of Governors of the Federal Reserve System (the “Board”), the Federal Deposit Insurance Corporation (the “FDIC”) and the Office of the Comptroller of the Currency...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

There’s been a hitch in Saudi Aramco’s IPO plans (mind-boggling $2 trillion possible valuation and all): where to list. The frontrunners, by the way, are the London Stock Exchange and the NYSE....more

Federal Reserve Board Approves Extended Transition Period for Deutsche Bank AG, SVB Financial Group, and UBS Group AG to Conform...

On June 7, 2017, the Federal Reserve Board authorized an extension of up to five (5) years for Deutsche Bank AG, SVB Financial Group, and UBS Group AG to comply with certain aspects of the Dodd-Frank Wall Street Reform and...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Uber’s troubles over the past few months have been well documented (here, among many other places). Still, this weekend’s news that the ride-hailing company’s board is considering a three-month leave of absence for CEO Travis...more

The Federal Reserve Bank of New York Finds That the Leveraged Lending Guidance Has Not Reduced Systemic Risk

The Federal Reserve Bank of New York issued a Staff Report this week titled "Macroprudential Policy and the Revolving Door of Risk: Lessons from Leveraged Lending Guidance,” that studied the effects of the March 2013...more

Risk Management and Governance for Large Financial Institutions

by K&L Gates LLP on

The financial crisis that led to the Great Recession of 2008–2009 compelled the banking regulators worldwide to reexamine and strengthen their approaches to supervising large, systemically important global financial...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Goldman Sachs’ recent purchase of $2.8 billion in Venezuelan bonds has been kicking around the headlines for a few days now. Here’s what’s at stake for the country and the bank....more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

A Dutch court has backed the local Akzo Nobel in a bid by Elliot Mgmt to remove Akzo’s chairman after ignoring multiple overtures from PPG for the pain and chemicals giant. Elliot had hoped to force a special shareholder...more

GAO Agrees to Decide the Legality of the Leveraged Lending Guidance; Indicates Decision Will Take “at Least a Few Months”

On May 23, the Government Accountability Office (GAO), in a letter to Senator Patrick Toomey, R-Pa., agreed to determine whether the Guidance on Leveraged Lending jointly issued in 2013 by the Board of the Governors of the...more

The Financial CHOICE Act Is Approved by US House Financial Services Committee

On May 4, the Financial CHOICE Act (the FCA) — which was introduced to the House of Representatives on April 26 by Rep. Jeb Hensarling (Texas-5), and co-sponsored by seven of his Republican colleagues and referred for...more

Federal Reserve Finds First Bank in Violation of the Volcker Rule

On April 20, 2017, the Board of Governors of the Federal Reserve System (the “Federal Reserve”) issued a Consent Order to Deutsche Bank AG after finding deficiencies in the bank’s Volcker Rule compliance program, imposing a...more

Variation Margin Requirements Relief

by White & Case LLP on

According to the original timetable, the first implementation date in various G20 countries for uncleared over-the-counter ("OTC") derivative variation margin requirements was 1 September 2016 for the largest market...more

Financial Services Weekly News - May 2017 #2

by Goodwin on

Editor's Note - In this Issue. The House Financial Services Committee passed the Financial CHOICE Act that would make significant changes to the Consumer Financial Protection Bureau; the U.S. Securities and Exchange...more

Federal Reserve Governor Gives Speech Assessing Post-Crisis Regulatory Framework

by Shearman & Sterling LLP on

US Federal Reserve Board Governor Jerome Powell gave a speech at the Global Finance Forum assessing the “core reforms” of the post-crisis financial regulatory framework...more

Banks and Credit Unions Agree to a (Temporary) Cease Fire

by Ruder Ware on

It’s not every day that community bankers and credit unions agree. Whether it is over tax-exempt status or capital requirements, we have become accustomed to the battle between community banks and credit unions. For example,...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Wells Fargo’s Board Chair, Stephen Sanger, did survive his reelection vote the other day. Barely. But Breakingviews thinks he should think awfully hard about his future as a Director at the bank....more

Fed Assesses First Penalty for Volcker Rule Violation

The Board of Governors of the Federal Reserve System has assessed its first penalty for violation of the Volcker Rule against Deutsche Bank AG. The Volker Rule required Deutsche Bank’s Chief Executive Officer to annually...more

The 2017 Automotive Mergers and Acquisitions Outlook

by Foley & Lardner LLP on

As we stand here in early 2017, we are further away from the all-time high in valuations and deal activity that we witnessed in 2015; but despite signs that the extended expansion cycle for the industry may be plateauing,...more

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