Financial Regulatory Developments Focus - July 2015 #3

In this issue:

- US Federal Deposit Insurance Corporation Issues Notice of Proposed Rulemaking to Revise How Small Banks are Assessed for Deposit Insurance

- UK Prudential Regulation Authority Consults on Implementation of UK Leverage Ratio Framework

- UK Regulators Publish Further Final Rules on Senior Manager and Certification Regime

- Basel Committee on Banking Supervision Publishes Revised International Guidelines on Corporate Governance Principles for Banks

- European Securities and Markets Authority Registers New Credit Rating Agency

- US Federal Financial Institutions Examination Council Develops Cybersecurity Assessment Tool for Chief Executive Officers and Boards of Directors

- Financial Stability Board Progress in Reforming Major Interest Rate Benchmarks

- Assessment of Implementation of Principles for Financial Market Infrastructures Announced

- US Regulators Release Joint Staff Report Regarding the US Treasury Market

- European Banking Authority Opinion on Securitization

- UK Government Makes Recommendations to the Financial Policy Committee

- Board of the International Organization of Securities Publishes Report Titled SME Financing Through Capital Markets

- European Banking Authority Guidelines and Standards on Simplified Obligations

- European Banking Authority Guidelines on Conditions for Group Financial Support

- UK Financial Conduct Authority Appoints New Director of Supervision, Retail and Authorizations

- Upcoming Events

- Excerpt from US Federal Deposit Insurance Corporation Issues Notice of Proposed Rulemaking to Revise How Small Banks are Assessed for Deposit Insurance:

On June 16, 2015, the US Federal Deposit Insurance Corporation approved a Notice of Proposed Rulemaking and request for comment on proposed refinements to the deposit insurance assessment system for small insured depository institutions that have been federally insured for at least five years (referred to as “established small banks”). The FDIC is proposing to refine the deposit insurance assessment system by: (i) revising the financial ratios method so that it would be based on a statistical model estimating the probability of failure over three years; (ii) updating the financial measures used in the financial ratios method consistent with the statistical model; and (iii) eliminating risk categories for established small banks and using the financial ratios method to determine assessment rates for all such banks (subject to minimum or maximum initial assessment rates based upon a bank’s composite rating). The FDIC proposes that the refinements would become operative the quarter after the reserve ratio of the Deposit Insurance Fund reaches 1.15 percent. and that a final rule would go into effect the quarter after a final rule is adopted; however, as stated above, the proposed amendments would not become operative until the quarter after the DIF reserve ratio reaches 1.15 percent.

Please see full publication below for more information.

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