News & Analysis as of

Federal Reserve

FFIEC Finalizes Proposed Revisions to the Call Report in Effort to Reduce the Burden of Reporting

by Weiner Brodsky Kider PC on

The FFIEC has finalized updates to the Consolidated Reports of Condition and Income (“Call Report”) with the goal of reducing the burden associated with Call Report data collection and reporting requirements and implementing...more

Financial Regulatory Developments Focus - January 2018 #2

by Shearman & Sterling LLP on

In this week's newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more

CFPB to issue RFIs seeking feedback on its activities

by Ballard Spahr LLP on

The CFPB announced that, in coming weeks, it plans to publish in the Federal Register a series of Requests for Information (RFIs) seeking comment on its enforcement, supervisory, rulemaking, market monitoring, and educational...more

Federal Reserve Board Proposes Guidance Clarifying Risk Management Supervisory Expectations for Large Financial Institutions

by Shearman & Sterling LLP on

The US Board of Governors of the Federal Reserve System issued proposed guidance for comment that would clarify supervisory expectations related to risk management for large financial institutions. This proposed guidance...more

A rule by any other name: What is a ‘rule’ subject to disapproval under the Congressional Review Act?

by Thompson Coburn LLP on

In addition to formal regulations, informal federal regulatory guidance has become commonplace in the world of banking law. The terms “guidance,” “bulletin,” “interagency statement,” “advisory letter,” “financial...more

Federal Reserve Board Requests Comments Regarding Proposed Call Report Revisions

by Shearman & Sterling LLP on

The US Board of Governors of the Federal Reserve System requested comment regarding revisions to the FR Y-9C, FR Y-9LP, FR Y-9SP, FR Y-9ES and FR Y-9CS call reports for holding companies. The notice requests comment with...more

Changes to Shared National Credit Program Provides Regulatory Relief to 82 Financial Institutions

by Shearman & Sterling LLP on

The US Board of Governors of the Federal Reserve System, the US Office of the Comptroller of the Currency, and the US Federal Deposit Insurance Corporation announced an increase in the aggregate loan commitment threshold for...more

US Banking Agencies Update Community Reinvestment Act Thresholds for Small and Intermediate Small Institutions

by Shearman & Sterling LLP on

The US Board of Governors of the Federal Reserve System, the US Office of the Comptroller of the Currency, and the US Federal Deposit Insurance Corporation announced technical amendments to the asset thresholds used to define...more

US Banking Agencies Announce Joint Determinations for Living Wills of Largest US Banks

by Shearman & Sterling LLP on

The US Board of Governors of the Federal Reserve System and the US Federal Deposit Insurance Corporation announced that none of the most recent resolution plans for the eight largest and most complex domestic banking...more

US House of Representatives Approves Bipartisan Bill to Modify Systemically Important Financial Institution Designation

by Shearman & Sterling LLP on

The US House of Representatives voted 288-130 in favor of the Systemic Risk Designation Improvement Act of 2017 (H.R. 3312). The bill, introduced on July 19, 2017 and sponsored by Representative Blaine Luetkemeyer, removes...more

Federal Reserve Board Repeals Regulation C and Proposes Revisions to Regulation M

by Shearman & Sterling LLP on

The US Board of Governors of the Federal Reserve System announced publication of a final rule repealing Regulation C. This regulation had been promulgated to implement provisions under the Home Mortgage Disclosure Act....more

Federal Reserve Board Finalizes Revisions to Components of CCAR and DFAST

by Shearman & Sterling LLP on

The US Board of Governors of the Federal Reserve System announced the finalization of revisions to certain aspects of its Comprehensive Capital Analysis and Review (CCAR) and Dodd-Frank Act Stress Test (DFAST) programs.. The...more

Federal Reserve, OCC and FDIC Release Examiner Guidance for Institutions Affected by Major Disasters

by Shearman & Sterling LLP on

The US Board of Governors of the Federal Reserve System, the US Office of the Comptroller of the Currency, the US Federal Deposit Insurance Corporation, and the US National Credit Union Administration released interagency...more

Federal Reserve Board Announces Elimination of SOSA Ranking and Proposes Changes to Payment System Risk Policy

by Shearman & Sterling LLP on

The US Federal Reserve Board announced that it is seeking comments regarding a proposed change to its Payment System Risk Policy. In a related action, the Federal Reserve Board has also announced that it is eliminating the...more

Federal Reserve System Announces New Payments Security Strategy Leader

by Shearman & Sterling LLP on

The Federal Reserve Board announced that it was appointing Kenneth Montgomery as its payment security strategy leader...more

Rosa Gil to Join New York Fed Board of Directors

by Shearman & Sterling LLP on

The Federal Reserve Bank of New York announced the appointment...more

Federal Reserve Board announces Three New Reference Rates for Overnight Repo Transactions

by Shearman & Sterling LLP on

The Board of Governors of the Federal Reserve System announced final plans for the production of three new reference rates regarding overnight repurchase transactions of Treasury Securities. The rates will be produced by the...more

Federal Reserve Board Requests Comment on Package of Proposals that would Increase the Transparency of its Stress Testing Program

On December 7, 2017, the Federal Reserve Board requested comment on a package of proposals that would increase the transparency of its stress testing program. The proposed enhanced disclosures have three components: (1)...more

US Federal Banking Regulators May Re-evaluate Leveraged Lending Guidance

by Shearman & Sterling LLP on

The US Board of Governors of the Federal Reserve System, and the US Federal Deposit Insurance Corporation sent letters to Representative Blaine Luetkemeyer stating that they are considering seeking public input regarding...more

US Federal Reserve Bank of New York Executive Vice President Discusses the Role of Bank Supervisors in the Culture Reform Dialogue

by Shearman & Sterling LLP on

US FRB of NY Executive VP Kevin Stiroh spoke at a culture roundtable session regarding misconduct, risk, culture, and supervision. The remarks were based on a white paper that was published the same day. Mr. Stiroh’s remarks...more

U.S. Banking Agencies Support Conclusion of Reforms to International Capital Standards

by Shearman & Sterling LLP on

The Federal Reserve Board, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation announced their joint support for the finalization by the Basel Committee of the “Basel III” agreement on...more

Federal Reserve Board requests comment on package of proposals that would increase the transparency of its stress testing program

by Shearman & Sterling LLP on

The Federal Reserve Board announced a suite of proposals intended to increase the transparency of its stress testing program. One key aspect of the proposals is intended to increase transparency in the modeling used by the...more

Senate Banking Committee Approves Nomination of Jerome Powell as Chair of the Federal Reserve Board

by Shearman & Sterling LLP on

Senate Banking Committee overwhelmingly approved the nomination of Jerome Powell as Fed Chairman...more

Orrick's Financial Industry Week In Review

FRB Requests Public Comment on Proposal to Amend Regulation A - On December 4, 2017, the Federal Reserve Board ("FRB") requested public comment on a proposal to amend Regulation A to make certain technical adjustments,...more

Thomas Barkin to Become Next President and CEO of the Federal Reserve Bank of Richmond

by Shearman & Sterling LLP on

The Federal Reserve Bank of Richmond named Thomas Barkin as its President and Chief Executive Officer. Mr. Barkin’s appointment will take effect on January 1, 2018...more

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