CFTC Staff Issues Interpretive Guidance Regarding Exemption from Aggregation - On May 2, 2018, the Commodity Futures Trading Commission's ("CFTC") Division of Market Oversight issued a CFTC staff letter with interpretive...more
On May 2, 2018, Fitch published a report entitled: Germany Residential Mortgage Rating Criteria Addendum. On May 2, 2018, Fitch published a report entitled: Switzerland Residential Mortgage Rating Criteria Addendum. ...more
CFTC Statement on Self-Certification of Bitcoin Products by CME, CFE and Cantor Exchange - On December 1, 2017, the Commodity Futures Trading Commission ("CFTC") issued a Statement on the Self-Certification of Bitcoin...more
France Welcomes Foreign and Alternative Capital Providers with Latest Reform of Finance Sector - Long a cornerstone of the French banking system, the "French banking monopoly" largely prevents non-bank entities from...more
Agencies Propose Simplifying Regulatory Capital Rules - On September 27, 2017, the Federal Deposit Insurance Corporation, the Federal Reserve Board and the Office of the Comptroller of the Currency announced a proposed...more
CFPB Issues Final Rule Temporarily Raising Reporting Threshold for Home Equity Loans Under Home Mortgage Act Rules - On August 24, 2017, the Consumer Financial Protection Bureau (the "CFPB") issued a new rule that amends...more
Financial Industry Developments - Changes Proposed to CAS and STACR Programs - On May 8, 2017, Fannie Mae and Freddie Mac announced that they are considering certain changes to the structure of their CAS and STACR...more
Financial Industry Developments - CFPB Proposes to Provide Flexibility in Collecting Information - On March 24, 2017, the Consumer Financial Protection Bureau ("CFPB") released a proposal to amend Equal Credit...more
Financial Industry Developments - OCC Provides Additional Details to Evaluate Charter Applications From Fintech Companies - On March 15, 2017, the Office of the Comptroller of the Currency ("OCC") issued a "Draft...more
Financial Industry Developments - House Committee on Financial Services Comments on OCC Fintech Charter - All 34 Republican members of the Financial Services Committee of the U.S. House of Representatives, including...more
Financial Industry Developments - Federal Reserve Board Announces Finalized Rule Adjusting the Board's Maximum Civil Money Penalties - On January 18, 2017, the Federal Reserve Board announced that it was adjusting...more
FHFA Announces Increase in Maximum Conforming Loan Limits for Fannie Mae and Freddie Mac in 2017 - On November 23, 2016, the Federal Housing Finance Agency (FHFA) announced an increase in the maximum conforming loan...more
Agencies Issue Proposal on Method to Adjust Threshold for Exempting Small Loans from Special Appraisal Requirements - On July 22, 2016, the Consumer Financial Protection Bureau, the Federal Reserve Board and the Office...more
On March 30, 2016, Moody’s published its rating methodology for assessing green bonds. On March 30, 2016, DBRS published its methodology for rating Canadian structured finance instruments. ...more
ESMA Consults on Guidelines on Disclosure of Information on Commodity Derivatives Markets or Related Spot Markets under MAR - On March 30, the European Securities and Markets Authority ("ESMA") opened a public...more
On March 2, S&P updated its criteria for rating certain U.S. RMBS backed by pre-2009 originated mortgage loans. On March 1, Moody’s updated its rating methodology for U.S. public electric utilities with generation ownership...more
On January 6, DBRS published its methodology for rating European commercial mortgage loans and European CMBS transactions. On January 4, DBRS published its preferred share and hybrid security criteria for corporate issuers....more
On July 22, Moody’s republished its credit rating methodology report on EMEA CMBS transactions. On July 20, DBRS published updated Canadian surveillance methodology for CDOs of large corporate credit....more
In This Issue: CFPB Final Rule Amendments to Ability to Repay and QM Rule; Extension of Loan Modification Programs; Freddie Mac $1 Billion Performing Modified Loan Securitization; FinCEN Guidance on Virtual Currency...more