News & Analysis as of

Board of Governors

Lowenstein Sandler LLP

AI in Credit Decision-Making Is Promising, but Beware of Hidden Biases, Fed Warns

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As financial services firms increasingly turn to artificial intelligence (AI), banking regulators warn that despite their astonishing capabilities, these tools must be relied upon with caution. Last week, the Board of...more

White & Case LLP

Unlucky: Do the recent changes to the Federal Reserve’s powers under Section 13(3) of the Federal Reserve Act inhibit future...

White & Case LLP on

On December 27, 2020, the President signed into law the Consolidated Appropriations Act, 2021.Title X of Division N of that law ("Title X") contains several provisions that change the authority of the Board of Governors of...more

Weiner Brodsky Kider PC

Federal Banking Agencies Issue Statement on LIBOR Transition

Weiner Brodsky Kider PC on

The FDIC, the OCC, and the Board of Governors of the Federal Reserve System (collectively, the Agencies) recently issued a joint statement to encourage banks to transition away from USD LIBOR as soon as practicable and no...more

Morrison & Foerster LLP

A Delay Of LIBOR’s Demise?

Publication of U.S. dollar (USD) LIBOR rates used in many financial instruments may continue longer than expected. On November 30, 2020, ICE Benchmark Administration (IBA), the administrator of LIBOR, released a statement...more

Holland & Knight LLP

Libor Administrator Proposes Extending Timeline for Discontinuing Some U.S. Dollar Benchmarks

Holland & Knight LLP on

The Intercontinental Exchange (ICE) Benchmark Administration (IBA), which is the administrator of the London Interbank Offered Rate (Libor), announced on Nov. 30, 2020, that it will consult in early December on its intention...more

Latham & Watkins LLP

Federal Reserve Recognizes Significance of Climate Risks on Financial Stability

Latham & Watkins LLP on

The US prudential regulator is paying attention to climate risks, and will likely act to mitigate those risks if they threaten financial stability. In its November 2020 Financial Stability Report (the Report), the Board of...more

Jackson Lewis P.C.

NCAA Announces “March Madness” Modifications To Address COVID-19 Impact

Jackson Lewis P.C. on

As the NCAA Men’s Basketball 2020-2021 regular season schedule is about to begin in the midst of escalating coronavirus pandemic spikes and increasing hospitalizations around the country, the NCAA Division I Men’s Basketball...more

Fox Rothschild LLP

Federal Agencies Issue Paper On Strengthening Operational Resilience

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The Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation are issuing an interagency paper on Sound Practices to Strengthen Operational...more

Manatt, Phelps & Phillips, LLP

FFIEC Guidance Continues to Encourage Prudent Credit Accommodations

On August 3, 2020, the Federal Financial Institutions Examination Council1 (FFIEC) issued a new joint statement of principles for banks to consider while working with their loan customers as the end of COVID-19 initial loan...more

Adler Pollock & Sheehan P.C.

Federal Reserve Releases Amended Form Documents For Its Main Street Lending Program To Accommodate Nonprofit Lending Facilities

On July 31, 2020, the Federal Reserve Bank of Boston (the “Reserve Bank”) released amended form documents and certifications (the “Form Documents”) for the Main Street Lending Program (the “Program”) to accommodate the...more

Goodwin

Financial Services Weekly Roundup: SEC Proposes Modified Disclosure Framework For Funds

Goodwin on

In the News. The Securities and Exchange Commission (SEC) proposed modifying the disclosure framework for mutual funds and exchange-traded funds (funds), which would create a new layered disclosure regime that attempts to...more

Adler Pollock & Sheehan P.C.

End-of-Summer Sale: Federal Reserve Lowers Pricing For The Municipal Liquidity Facility

The Board of Governors of the Federal Reserve System (the “Federal Reserve”), through the Federal Reserve Bank of New York, has lowered the pricing methodology for its Municipal Liquidity Facility (the “MLF”), the CARES Act...more

Adler Pollock & Sheehan P.C.

Federal Reserve Releases FAQs For Nonprofit Lending Facilities Under Main Street Lending Program

On July 23, 2020, the Board of Governors of the Federal Reserve System (the “Federal Reserve”) released Frequently Asked Questions (“FAQs”) for its Nonprofit Organization New Loan Facility (the “NONLF”) and Nonprofit...more

Robins Kaplan LLP

Financial Daily Dose 7.28.2020 | Top Story: SEC Warns Under Armour Execs of Enforcement Action Over Past Accounting Practices

Robins Kaplan LLP on

The SEC has served Wells notices to Under Armour, warnings that the company and its execs could “face civil-enforcement action related to the sportswear maker’s past accounting practices,” including “the company’s disclosures...more

Goodwin

Financial Services Weekly Roundup: The OCC’s True Lender Test Embraces A Simplified Solution

Goodwin on

In This Issue. The Office of the Comptroller of the Currency (OCC) proposed a rule that would establish that a national bank or federal savings association is the “true lender” of a loan if, as of the date of origination, the...more

Ulmer & Berne LLP

What Do You Call A Nominating Committee That Doesn’t Actually Nominate Anyone? A FINRA Nominating Committee

Ulmer & Berne LLP on

This will be a quick one, but I just had to get something off my chest before the weekend. As you probably know, there is an election upcoming. No, not that one, the one to elect certain members of FINRA’s Board of...more

Womble Bond Dickinson

Main Street Lending Program Expands (Again!)

Womble Bond Dickinson on

Less than two weeks after releasing additional details and Frequently Asked Questions surrounding the $600 billion Main Street Lending Program (MSLP), on June 8, 2020 the Board of Governors of the Federal Reserve (Federal...more

Adler Pollock & Sheehan P.C.

Federal Reserve Opens Municipal Liquidity Facility With Release Of Notice Of Interest

The Board of Governors of the Federal Reserve System (the “Federal Reserve”), through the Federal Reserve Bank of New York (the “Reserve Bank”), continues to roll out its new CARES Act lending program, known as the Municipal...more

Womble Bond Dickinson

Update to Main Street Lending Program Federal Reserve Announces Revised Terms & FAQs

Womble Bond Dickinson on

On April 30, 2020, the Board of Governors of the Federal Reserve (Federal Reserve) announced revised terms for its $600 billion Main Street Lending Program. These include a third financing facility titled the Main Street...more

Goodwin

Financial Services Weekly News: Regulators Propose Easing Volcker Rule Restrictions

Goodwin on

In This Issue. Federal financial regulators brought January to an impactful conclusion last week. On the morning of January 30, five federal financial regulators issued a proposed rule that would fundamentally modify the...more

Goodwin

Key Takeaways for Investors From the Federal Reserve’s Final “Control” Rule

Goodwin on

On January 30, 2020, the Board of Governors of the Federal Reserve System (Federal Reserve) issued a final rule (Rule) that revises the Federal Reserve’s regulations related to determinations of whether a first company (an...more

SmithAmundsen LLC

FinCEN Clarifies Position On Hemp SARs

SmithAmundsen LLC on

On December 3, 2019, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Financial Crimes Enforcement Network, and the Office of the Comptroller of the Currency issued joint...more

Kramer Levin Naftalis & Frankel LLP

Federal Reserve Board Releases Semiannual Financial Stability Report

On Nov. 15, 2019, the Board of Governors of the Federal Reserve (the “Board”) released its semiannual Financial Stability Report. The report presents the Board’s current assessment of the resilience of the U.S. financial...more

Franczek P.C.

NCAA: Student Athletes May be Paid for Names, Images, and Likenesses

Franczek P.C. on

On Tuesday, the Board of Governors of the NCAA unanimously voted to reverse its longstanding policy by permitting students participating in athletics to benefit from the use of their names, images, and likenesses in licensing...more

White & Case LLP

Fed Announces "FedNow" Real-Time Payments Service

White & Case LLP on

On August 5, 2019, the Board of Governors of the Federal Reserve System (“Board”) proposed the development of a real-time gross settlement service (“RTGS”) called “FedNow.” The service, expected to launch in 2023 or 2024,...more

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Updated: May 25, 2018:

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Privacy Officer
JD Supra, LLC
10 Liberty Ship Way, Suite 300
Sausalito, California 94965

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Privacy Officer
JD Supra, LLC
10 Liberty Ship Way, Suite 300
Sausalito, California 94965

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Updates to This Policy

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Contacting JD Supra

If you have any questions about how we use cookies and other tracking technologies, please contact us at: privacy@jdsupra.com.

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