On Friday, March 10, 2023, the California Department of Financial Protection and Innovation closed Silicon Valley Bank ("SVB") and the Federal Deposit Insurance Corporation ("FDIC") was appointed SVB's receiver....more
3/15/2023
/ Banking Sector ,
Banks ,
Deposit Accounts ,
Deposit Insurance ,
Depository Institutions ,
FDIC ,
Federal Reserve ,
Financial Crisis ,
Financial Institutions ,
Insolvency ,
Receivership ,
Relief Measures ,
Silicon Valley
In an effort to align the permissibility of crypto activities for all member banks of the Federal Reserve System (the "FRS", which includes all national banks and state member banks), the Board of Governors of the Federal...more
2/15/2023
/ Banking Sector ,
Cryptocurrency ,
Digital Currency ,
FDIA ,
Federal Reserve ,
Fiduciary Duty ,
Financial Institutions ,
FRB ,
Joint Statements ,
OCC ,
Popular ,
Trading Policies
The Office of the Comptroller of the Currency (OCC) issued a final rule that creates a bright-line test to determine when a national bank or federal savings association (bank) makes a loan and is the "true lender," including...more
As during the 2008 global financial crisis, the US financial regulators and Congress are taking emergency action to ensure the availability of liquidity and credit to the US financial system in response to the COVID-19...more
4/8/2020
/ Banking Sector ,
Commercial Paper Funding Facility (CPFF) ,
Compliance ,
Coronavirus/COVID-19 ,
Emergency Lending ,
Financial Institutions ,
Liquidity ,
Main Street Expanded Loan Facility ,
Money Market Mutual Fund Liquidity Facility (MMLF) ,
Primary Dealer Credit Facility (PDCF) ,
Term Asset-Backed Securities Loan Facility (TALF) ,
US Branches of Non-US Banks
With the regulatory agenda for the US operations of foreign banks in a state of flux, Kevin Petrasic, Paul Saltzman, Glen Cuccinello, Will Giles and Alexander Abedine of global law firm White & Case provide a map to help...more
4/2/2019
/ Banking Sector ,
Board of Directors ,
Combined US Operations (CUSO) ,
Corporate Governance ,
FBOs ,
Federal Reserve ,
Financial Regulatory Agencies ,
Foreign Banks ,
FRB ,
Intermediate Holding Company (IHCs) ,
NYDFS ,
OCC ,
Regulatory Agenda