FDIC Board Governance Dispute on Review of Bank Mergers Aired Publicly - CFPB Director Rohit Chopra on December 9 published on the CFPB’s website a blog post captioned “How Should Regulators Review Bank Mergers?” in...more
Fed Issues Proposed Rule for New Instant Electronic Payment Service - FedNow The Federal Reserve has issued a proposed rule that would govern funds transfers over the Federal Reserve’s new 24x7x365 service that will...more
In the News. The Securities and Exchange Commission (SEC) adopted final rules to update and expand the statistical disclosures that bank and savings and loan registrants must provide to investors for the first time in 30...more
Certain provisions of the CARES Act provided community banks breathing room while they worked to facilitate the badly needed economic recovery, including the following: - Temporarily reducing the Community Bank Leverage...more
On May 15, 2020, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (collectively, Regulators), proposed a new final interim rule...more
Optimism over promising results for a coronavirus vaccine from Moderna helped drive stocks up on Monday after a rough go of it last week....more
President Signs New COVID-19 Relief Bill into Law, Funding Additional PPP Loans - The Paycheck Protection Program and Health Care Enhancement Act was signed into law by President Donald Trump on April 24, providing $484...more
The three US federal banking agencies continue to take additional steps to promote the functioning of the financial system in the face of the pandemic. The three US federal banking agencies - the Board of Governors of the...more
The community bank leverage ratio framework (CBLR Framework) is available for use beginning with the March 31, 2020 Call Report and Form FR Y-9C (consolidated financial statements for holding companies). A qualifying...more
On October 29, 2019, the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation (the “Federal Banking Agencies”) issued a joint press...more
Federal Banking Agencies Adopt Simplified Capital Calculation for Community Banks The federal banking agencies have issued a final rule that will simplify capital requirements for community banks by allowing them to adopt...more
Headlines - FDIC Adopts Final Rule Establishing Community Bank Leverage Ratio Framework OCC Issues Compliance Guidance on Registered Appraisal Management Companies CFPB Announces New Policies to Promote Innovation...more
Central bankers and banking supervisors of the Basel Committee on Banking Supervision met this week to discuss a range of policy and supervisory initiatives. ...more
The public comment period for the banking agencies’ capital simplification rules for qualifying community banking organizations (i.e. the Community Bank Leverage Ratio proposal) are due on Tuesday, April 9th. As previously...more
1. FDIC Proposes Changes to Deposit Insurance Assessment Rule for CBLR Banks The FDIC has published a proposal that describes how the agency would apply the Community Bank Leverage Ratio (“CBLR”) framework previously...more
The U.K. Prudential Regulation Authority has published a Policy Statement on applying the U.K. leverage ratio to systemic Ring-fenced Bodies and reflecting the Systemic Risk Buffer. The SRB is one of the elements of the...more
On November 21, 2018, the Federal Reserve, Office of Comptroller of the Currency and the FDIC jointly published a notice of proposed rulemaking (the “NPR”) to provide an alternative capital system for qualifying banking...more
In this week’s newsletter, we provide a snapshot of the principal U.S., European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more
The Basel Committee on Banking Supervision has issued a statement on leverage ratio "window-dressing" behavior by banks....more
The Basel Committee on Banking Supervision has published a consultation paper entitled "Leverage ratio treatment of client-cleared derivatives," seeking views from stakeholders on whether a targeted and limited revision of...more
The General Court of the European Union has annulled decisions of the European Central Bank, refusing to allow six French banks to exclude from the calculation of the leverage ratio certain exposures connected to French...more
The U.K. Prudential Regulation Authority has published a consultation paper entitled "UK leverage ratio: Applying the framework to systemic ring-fenced bodies and reflecting the systemic risk buffer."...more
The SEC has an opened an investigation into whether companies are improperly rounding up their earnings per share reporting to the next highest cent—an inquiry reportedly prompted by a noticeable lack of “4s” in the tenths...more
• The Economic Growth, Regulatory Relief and Consumer Protection Act (the Act), which engendered substantial bipartisan support and was recently signed into law by President Donald Trump, amends parts of the Dodd-Frank Wall...more
Economic Growth, Regulatory Relief, and Consumer Protection Act Signed into Law President Trump signed into law the Economic Growth, Regulatory Relief, and Consumer Protection Act (the “EGRRCPA”) on May 24. The EGRRCPA...more