Foreign Banks

News & Analysis as of

NY DFS Takes Action Against Foreign Bank Regarding Transactions with Sanctioned Countries

On November 18, the New York DFS announced a consent order with a foreign bank for allegedly misleading regulators regarding its transactions with sanctioned countries, most notably Iran, Sudan, and Myanmar. According to the...more

Can Undue Concentration in Financial Companies Threaten Market Stability? New Federal Reserve Merger and Acquisition Regulation...

The new year will bring new restrictions on banks and certain large financial institutions, as the Federal Reserve Board issued a final rule prohibiting financial companies from merging if the ratio of the resulting entity’s...more

Prudential Regulators and CFTC Re-Propose Margin Requirement Rules for Uncleared Swaps

The Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Farm Credit Administration, and the Federal Housing Finance Agency...more

Banking and Finance Litigation Update - Issue 81 (Global)

The Banking & Finance Litigation Update is published monthly and covers current developments affecting the Group's area of practice and its clients during the preceding month. In This Issue: - Domestic Banking...more

New York Court of Appeals Reaffirms the Separate Entity Rule

On October 23, 2014, the New York Court of Appeals issued an opinion in Motorola Credit Corp. v. Standard Chartered Bank, --- N.E.3d ----, 2014 WL 5368774, 2014 N.Y. Slip Op. 07199 (N.Y. Oct. 23, 2014), reaffirming New York's...more

Forex Probe Results in Fines, but Investigation Not Over Yet

The American Commodity Futures Trading Commission (CFTC), British Financial Conduct Authority (FCA), and Swiss Financial Market Supervisory Authority (FINMA) announced fines of $3.4 billion against five global banks on...more

EBA Consults on RTS on Contractual Recognition of Write-Down and Conversion Powers under BRRD

On November 5, the European Banking Authority (EBA) published a consultation paper on draft regulatory technical standards (RTS) on the contractual recognition of bail-in under the Bank Recovery and Resolution Directive...more

FSB Consults on Total Loss-Absorbing Capacity for G-SIBs

On November 10, the Financial Stability Board (FSB) published a consultation paper on proposals on the adequacy of total loss-absorbing capacity (TLAC)of global systemically important banks (G-SIBs) in resolution....more

EBA Releases Results of 2014 EU-Wide Stress Test

On October 26, the European Banking Authority (EBA) released the results of its 2014 EU-wide stress test covering more than 70% of total EU banking assets. The purpose of the test is to address remaining vulnerabilities in...more

China Bank Card Clearing Market — A Feast for Foreign Investors?

China plans to promote consumption and open up its bank card clearing market. This is the outcome of a State Council meeting chaired by Premier Li Keqiang on October 29, 2014. “All qualified domestic and overseas enterprises...more

Round Two: Prosecutors Reopen Bank Settlements

With our political system suffering from a growing chasm down party lines, our public servants seem to be increasingly vulnerable to public pressure. Politicians scramble to fight for whatever cause du jour will garner them...more

New Bank Indonesia Regulation Imposes Significant Limitations on Foreign Borrowings by Indonesian Companies

Changes move foreign currency debt further out of reach for many Indonesian borrowers. On October 28, 2014, Bank Indonesia, the Indonesian central bank, issued BI Regulation No. 16/20/PBI/2014 on Prudential Principles...more

Financial Stability Board Updates List of Global Systemically Important Banks

On November 6, the Financial Stability Board published its annual update of global systemically important banks (G-SIBs). Included in its annual update is the addition of one international bank bringing the total number of...more

New York Court of Appeals Gives Global Banks Big Win on “Separate Entity” Issue

In Motorola Credit Corp. v. Standard Chartered Bank, 2014 N.Y. Slip Op. 07199, 2014 WL 5368774 (Oct. 23, 2014) (“Motorola”), the highest New York state court ended five years of uncertainty and for the first time expressly...more

Financial Regulatory Developments Focus - November 2014

In this issue: - Bank Prudential Regulation & Regulatory Capital - Bank Structure - Derivatives - Enforcement - Financial Market Infrastructure - Financial Services -...more

Updated EMIR Q&A Published by ESMA

The European Securities and Markets Authority (ESMA) published the eleventh version of its “Questions and Answers” on EMIR implementation (EMIR Q&A) on October 24. The updated EMIR Q&A responds principally to questions that...more

European Finance Directors: Alternative Finance Now A Major Source Of Funding – More Alternatives Needed

Research published by Allen & Overy today reveals the extent to which alternative finance has already become a significant contributor to the funding mix for European corporates – having risen to rival bank lending in the...more

Exchange – International Newsletter: Issue 24 – October 2014

WELCOME - DLA Piper’s Financial Services International Regulatory team welcomes you to the twenty-fourth edition of ‘Exchange – International’ – an international newsletter designed to keep you informed of regulatory...more

Orrick's Financial Industry Week in Review

ESMA Updates its Questions and Answers on EMIR Implementation - On October 24, the European Securities and Markets Authority (ESMA) published an updated version of its Questions and Answers on the European Market...more

IBA Publishes Position Paper on LIBOR

On October 20, ICE Benchmark Administration Limited (IBA) published a position paper on the evolution of the London Interbank Offered Rate (LIBOR) (also known as ICE LIBOR)....more

Corporate and Financial Weekly Digest - Volume IX, Issue 43

In this issue: - ISS Announces Launch of QuickScore 3.0 - SEC Provides Relief to GSEC From Rule 204 Close-Out Requirements - CFTC Extends Relief to FCMs from Certain Commingling Requirements -...more

Assets in Foreign Branches Off Limits to Domestic Judgment Creditors

New York’s high court announced last week that banking institutions with branches in New York are shielded from judgment creditors attempting to collect on customer assets held at foreign branches of the same bank....more

Orrick's Financial Industry Week in Review

EBA Updates Single Rulebook Q&As - On October 17, the European Banking Authority (EBA) updated its Q&As on the single rulebook, publishing two new answers to questions relating to supervisory reporting and credit risk....more

Swiss Banks Pushing Back on Scope of Agreement with U.S. under Amnesty Program

As reported yesterday by David Voreacos, Giles Broom, and Jeffrey Vogeli, 73 of the over 100 Swiss banks that enrolled in the Justice Department’s amnesty program for Swiss banks have written an 11-page letter requesting...more

Banking & Finance Litigation Update - Issue 80 (Global)

In This Issue: - Domestic Banking - Domestic General - European Banking - European General - International Banking - International General - Press Releases - Excerpt from International...more

366 Results
|
View per page
Page: of 15