Governor Bowman calls for transparent supervisory expectations and attention to the consequences of regulatory reform on the broader financial system. On June 25, 2023, US Federal Reserve Board (FRB) Governor Michelle W....more
Raise your hand if you are an independent mortgage banker, a residential mortgage real estate investment trust (“mREIT”) or a nonbank investor in residential mortgage loans that would like to be subject to additional federal...more
On October 10, 2019, the Board of Governors of the Federal Reserve System (Board), together with the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation, adopted a final rule to revise the...more
On Dec. 18, 2018, the Trump Administration signed a bilateral agreement on prudential insurance matters between the United States and the United Kingdom (the U.S.-U.K. Covered Agreement)....more
Last week, the federal banking agencies issued two notices of proposed rulemaking designed to lessen regulatory requirements on small and regional banking organizations....more
In this week's newsletter, we provide a snapshot of the principal U.S., European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more
On May 24, 2018, President Trump signed into law the first major financial services reform bill since the enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”) in 2010. The Economic...more
On May 23, Congress passed a bill to revise Dodd-Frank to reduce regulatory burdens on banks. Just as with the original Dodd-Frank Act, the real work will have to be done by the banking agencies and thus months will have to...more
On May 22, 2018, the U.S. House of Representatives (“House”) passed S. 2155, the “Economic Growth, Regulatory Relief, and Consumer Protection Act.” The bill was passed on a bipartisan basis with a vote of 258-159. The bill...more
On March 5, 2018, the Fed’s new Vice Chairman for Supervision, Randal Quarles, spoke at the Institute of International Bankers annual conference. He wanted to express his thoughts on the appropriate regulatory environment for...more
CFTC - CFTC and UK Financial Conduct Authority Sign Cooperation Arrangement on Financial Technology Innovation - On February 19, the Commodity Futures Trading Commission and the UK Financial Conduct Authority (FCA)...more
On January 30, 2017, the Board of Governors of the Federal Reserve System (the “Federal Reserve”) adopted a final rule (the “Final CCAR Rule”) that revises the capital plan and stress test rules under the Dodd-Frank Wall...more
On Jan. 13, 2017, the U.S. Department of the Treasury and the Office of the U.S. Trade Representative ("USTR") released the terms of the long-awaited covered agreement between the United States and the European Union (the...more
On September 8, 2016, the Board of Governors of the Federal Reserve System (the “Federal Reserve”), the Federal Deposit Insurance Corporation (the “FDIC”) and the Office of the Comptroller of the Currency (the “OCC,” and...more
Where do we go from here? As we mark another milestone in regulatory reform with the fourth anniversary of the enactment of the Dodd-Frank Act, it strikes us that although most studies required to be undertaken by the Act...more
The Enhanced Prudential Standards (Regulation YY) of the Board of Governors of the Federal Reserve System represent a significant shift in the U.S. regulation of foreign banking organizations (FBOs). In general, Regulation...more
The long-awaited standards establish significant structural, liquidity, risk management, and capital requirements for the largest U.S. and foreign banks operating in the United States, including new intermediate holding...more
Last week, the Federal Reserve Board (the “Board”) issued its long-awaited final enhanced prudential rule (Regulation YY) under Section 165 of the Dodd-Frank Act (the “Final Rule”) for bank holding companies and foreign...more
Due to “the range and complexity of the issues addressed in the rulemaking,” the Federal Reserve Board (Board) has extended until April 30, 2013, the comment period on a proposed rule to implement the enhanced prudential...more