Regulation

Regulatory News

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These announcements give prompt notice of amendments and proposed amendments to Federal Reserve regulations and policies, summarize them, and provide links to full information.

 
Date Title Category
December 5, 2014 Payment System Risk

Changes to the posting rules for ACH and commercial check transactions, part of amendments to the Federal Reserve Policy on Payment System Risk (PSR Policy), take effect upon today’s publication in the Federal Register. Companion amendments to Regulation J take effect July 23, 2015.

Operations
December 3, 2014 Enhanced Prudential Standards

The Federal Reserve Board has invited comment on new proposed enhanced prudential standards, published today in the Federal Register, for the regulation and supervision of General Electric Capital Corporation, a nonbank financial company that the Financial Stability Oversight Council designated for Board supervision. The deadline for public comments is February 2, 2015.

Bank Supervision
November 14, 2014 Concentration Limits

A new final rule, published today in the Federal Register, implements section 622 of the Dodd-Frank Act and prohibits a financial company merger or acquisition if the resulting company’s liabilities would exceed 10 percent of the aggregate liabilities of all financial companies. The rule takes effect January 1, 2015.

Bank Supervision
November 13, 2014 Payment System Risk

Amendments to the Federal Reserve Policy on Payment System Risk (PSR Policy), published today in the Federal Register and designed to reflect prevailing international risk-management standards for financial market infrastructures, take effect December 31, 2014. Companion amendments to Regulation HH establish a common set of risk-management standards for systemically important financial market utilities. Those amendments also take effect December 31, 2014.

Operations
September 29, 2014 Liquidity Coverage Ratio

A new interagency final rule, published today in the Federal Register, requires large and internationally active banking organizations to hold assets easily and quickly convertible into enough cash to cover their projected net cash outflows during a 30-day stress period. Covered U.S. banking organizations must fully comply with the rule by January 1, 2017.

Bank Supervision
September 26, 2014 Risk-based Capital

A new interagency final rule, published today in the Federal Register, changes the supplementary leverage ratio in a way that should better capture a banking organization’s on- and off-balance-sheet exposures. “Advanced approaches” banking organizations must disclose their supplemental leverage ratios beginning January 1, 2015 and comply with the rule’s minimum supplementary leverage ratio requirement beginning January 1, 2018.

Bank Supervision
September 24, 2014 Margin Requirements

A proposed interagency rule, published today in the Federal Register, would establish margin requirements for swap dealers, major swap participants, security-based swap dealers, and major security-based swap participants. The deadline for public comment is November 24, 2014.

Bank Supervision
September 22, 2014 Regulations M and Z

New amendments to official interpretations and commentary, published today in the Federal Register, increase the exemption thresholds in Regulations M and Z for exempt consumer credit and lease transactions. Effective January 1, 2015, the regulations apply to consumer credit transactions and consumer leases of up to $54,600. The adjustments reflect the annual percentage increase in the consumer price index.

Consumer
September 10, 2014 Community Reinvestment Act

Proposed new and revised interagency guidance, published today in the Federal Register, would clarify and supplement answers to questions about, among other things, retail banking services, innovation and responsiveness, and community development. The deadline for public comment is November 10, 2014.

Consumer
August 22, 2014 Regulation AA

The Federal Reserve Board has proposed the repeal of Regulation AA, the rules addressing unfair or deceptive acts or practices. Regulation AA is based on the Federal Trade Commission Act, and the Dodd-Frank Act repealed that part of the FTC Act. The Board and other federal financial agencies have also published guidance explaining the federal supervisory and enforcement authority over unfair or deceptive acts or practices that persists despite the repeal. The deadline for public comment is in 60 days.

Consumer
July 16, 2014 Risk-based Capital

A new final rule clarifies the types of guarantees eligible for treatment as regulatory capital under the advanced-approaches risk-based capital rule. The new rule takes effect October 1, 2014.

Bank Supervision
July 1, 2014 HELOCs

New final guidance, published today, encourages financial institutions to communicate with HELOC borrowers about end-of-draw periods and provides broad principles for managing related risk.

Consumer
July 1, 2014 Regulations Y and YY

A new proposal, published today in the Federal Register, would modify the timing and scope of the rules governing capital plans and stress tests. The deadline for public comment is August 11, 2014.

Bank Supervision
June 19, 2014 Tax Allocation

New final guidance, published today in the Federal Register, instructs financial institutions to review and clarify their tax allocation agreements in order to minimize disputes between holding companies and their depository institutions over ownership of tax refunds.

Bank Supervision
June 4, 2014 Regulatory Review

The federal banking agencies are reviewing their regulations to identify ones that are outdated, unnecessary, or unduly burdensome. This first round of review focuses on Applications and Reporting, Powers and Activities, and International Operations. Three more rounds of review will take place over the next two years. The deadline for public comment on this round is September 2, 2014.

Bank Supervision
May 29, 2014 Truth in Savings

Effective 30 days from today, the Board of Governors is repealing its Regulation DD. The Consumer Financial Protection Bureau, which now has rulemaking authority for the Truth in Savings Act, has published its own interim final version of Regulation DD.

Consumer
May 29, 2014 Gramm-Leach-Bliley

Effective 30 days from today, the Board of Governors is repealing its Regulation P. The Consumer Financial Protection Bureau, which now has rulemaking authority for the privacy-related provisions in the Gramm-Leach-Bliley Act, has published its own interim final version of Regulation P.

Consumer
May 29, 2014 Identity Theft

An amendment to Regulation V, effective 30 days from today, clarifies that the regulation’s provisions requiring identity theft prevention programs apply only to creditors that regularly extend credit or obtain consumer reports in the ordinary course of their business.

Consumer
May 15, 2014 Concentration Limits

A new proposed rule, published today in the Federal Register, would prohibit a financial company from combining with another company if the ratio of the resulting company's liabilities exceeds 10 percent of the aggregate consolidated liabilities of all financial companies. The proposal generally defines “liabilities” as the difference between a firm’s risk-weighted assets, as adjusted to reflect exposures deducted from regulatory capital, and its total regulatory capital. Firms not subject to consolidated risk-based capital rules would measure liabilities according to GAAP. The deadline for public comment is July 8.

Bank Supervision
May 1, 2014 Regulatory Capital

A final rule, published today in the Federal Register, sets a minimum supplementary leverage ratio for the very largest U.S. banking organizations. Effective January 1, 2018, bank holding companies covered by the rule will have to maintain a supplementary leverage ratio of at least 5 percent to avoid restrictions and their insured depository institutions will have to maintain a supplementary leverage ratio of at least 6 percent to be well capitalized according to the prompt corrective action framework. 

A proposed rule, published separately today in the Federal Register, revises the regulatory capital rule’s definition of “eligible guarantee.” The deadline for public comment is June 13.

Bank Supervision
March 24, 2014 Appraisal Management Companies

A new proposed rule would set registration and supervision requirements for appraisal management companies (AMCs), which act as intermediaries between appraisers and lenders. In states that don’t certify and license AMCs, the rule would bar AMCs from providing appraisal management services for real estate transactions involving federal regulated banking entities. Public comments are due in 60 days.

Bank Supervision
March 13, 2014 Stress Tests

Final supervisory guidance, published today in the Federal Register, describes general expectations for the stress tests the Dodd-Frank Act requires banks and holding companies to conduct on their own. The guidance applies to mid-sized banks and holding companies, those with between $10 billion and $50 billion in total assets.

Bank Supervision
January 6, 2014 Regulation A

A new proposed rule, published today in the Federal Register, implements the Dodd-Frank Act’s requirements for emergency lending by the Federal Reserve. The deadline for public comment is March 7, 2014.

Bank Supervision
Date Title Category
December 26, 2013 Regulation Z

A new final interagency rule, published today in the Federal Register, exempts some higher-priced mortgage loans from appraisal requirements established by the Dodd-Frank Act.

Bank Supervision
December 19, 2013 Income Tax

The federal banking regulators are seeking public comment on supplemental guidance designed to clarify how sections 23A and 23B apply to income tax allocation agreements involving holding companies and insured depository institutions. The deadline for public comment is January 21, 2014.

Bank Supervision
December 19, 2013 Dodd-Frank Act, Section 342

The federal financial regulatory agencies have extended the public comment deadline for their proposed policy statement on regulated institutions’ diversity policies and practices. The new deadline is February 7, 2014.

Bank Supervision
December 12, 2013 Regulation CC

A new proposed rule would subject electronic checks and electronic returned checks to Regulation CC’s check collection and return provisions, unless otherwise agreed by the sending and receiving banks. The deadline for public comment is May 2, 2014.

Operations
December 10, 2013 Volcker Rule

A new final joint rule implements section 619 of the Dodd-Frank Act, commonly known as the “Volcker Rule.” Covered banking organizations must comply with the Volcker Rule’s restrictions on investments and activities by July 21, 2015. This extends by one year the previous compliance deadline.

Bank Supervision
December 10, 2013 Regulation J

A new proposed rule, published today in the Federal Register, would allow Reserve Banks to require paying banks receiving presentment of checks from Reserve Banks to make proceeds of settlement available to Reserve Banks in as few as 30 minutes after receipt of the checks. The deadline for public comment is February 10, 2014.

Operations
December 6, 2013 Regulatory Capital

A new final rule aligns the Federal Reserve’s market risk capital rule with the Basel III capital framework, which the Board adopted earlier this year. A correction to that framework, also issued today, clarifies the criteria for subordinated debt instruments that may be counted as Tier 2 capital.

Bank Supervision
December 5, 2013 Service Providers

Through new guidance released today the Federal Reserve reminds financial institutions it supervises to exercise appropriate risk management when using service providers.

Bank Supervision
December 5, 2013 Financial Market Utilities

A new final rule sets the requirements Federal Reserve Banks must meet to provide services to financial market utilities that the Financial Stability Oversight Council has designated as systemically important.

Bank Supervision
December 4, 2013 Bank Secrecy Act

A new final rule from the Financial Crimes Enforcement Network and the Federal Reserve, published today in the Federal Register, amends regulations implementing the Bank Secrecy Act in order to maintain the Act’s coverage of funds transfers and transmittals of funds.

Bank Supervision
November 25, 2013 Regulatory Capital

A new final rule, published today in the Federal Register, increases the dollar thresholds for exempt consumer credit and lease transactions under Regulations Z and M.

Bank Supervision
November 19, 2013 Regulatory Capital

The federal bank regulatory agencies have released a new estimation tool to help community banks understand the potential effects of the recently revised regulatory capital framework on their capital ratios.

Bank Supervision
November 6, 2013 Priced Services

The new fee schedules for priced services, published today in the Federal Register, take effect January 2, 2014, and will be available at www.frbservices.org.

Operations
October 24, 2013 Liquidity Standards

A new proposed rule would require large banking and financial companies to hold minimum amounts of assets that can be converted easily and quickly into cash. U.S. firms would have to comply fully with this new liquidity standard by January 1, 2017. The deadline for public comments is January 31, 2014.

Bank Supervision
October 22, 2013 Fair Lending

New interagency guidance, released today, outlines general supervisory principles and expectations related to the Ability-to-Repay and Qualified Mortgage Standards Rule.

Bank Supervision
August 5, 2013 Stress Tests

New proposed guidance, published today in the Federal Register, describes supervisory expectations for annual stress tests conducted by financial companies with total consolidated assets between $10 billion and $50 billion. The deadline for public comment on the proposed guidance is September 25.

Bank Supervision
July 25, 2013 Student Loans

Financial institutions that offer programs for student borrowers struggling with repayment should provide those borrowers with clear, practical information explaining the basic options available, general eligibility criteria, the processes, and how to contact lenders or servicers.

Consumer
July 10, 2013 Mortgage Appraisals

A new proposed joint rule would exempt certain higher-priced mortgage loans from recently finalized federal appraisal requirements. Comments from the public on all but the proposal’s Paperwork Reduction Act analysis are due September 9.

Consumer
July 9, 2013 Large BHC Leverage Ratio

A new proposed joint rule would set additional leverage ratio requirements for the largest U.S. bank holding companies. The rule would take effect January 1, 2018. Comments from the public are due 60 days from the proposal's publication in the Federal Register.

Bank Supervision
July 5, 2013 Basel III

A final rule, approved by the Federal Reserve Board today, implements the Basel III regulatory capital reforms and includes some exemptions for community banks. The FDIC and OCC are expected to approve the rule by July 9.

Bank Supervision
June 5, 2013 "Swaps Push-out" Rule

A new rule, effective today, establishes new processes for uninsured U.S. branches and agencies of foreign banks and insured depository institutions that qualify as “swaps entities” under the Dodd-Frank Act. Dodd-Frank’s so-called “swaps push-out rule,” which bars swaps entities from discount window lending and deposit insurance, takes effect July 16. The rule is interim final, and the deadline for public comment is August 4.

Bank Supervision
April 18, 2013 Enhanced Supervision

A new proposal, published today in the Federal Register, would establish annual assessments on systemically important bank holding companies, savings and loan holding companies, and nonbank financial companies. These assessments are designed to cover the costs the Federal Reserve incurs supervising these entities. The deadline for comments is June 15.

Bank Supervision
April 5, 2013 Enhanced Supervision

A new final rule, published today in the Federal Register, defines how holding companies and nonbank financial companies qualify as “predominantly engaged in financial activities” or “significant.” These definitions will help determine which firms require enhanced prudential supervision by the Federal Reserve. The rule takes effect May 6.

Bank Supervision
April 5, 2013 Foreign Exchange

A new final rule, published today in the Federal Register, sets standards for banking organizations that are regulated by the Federal Reserve and conduct certain kinds of retail foreign exchange transactions. The rule takes effect May 13.

Bank Supervision
Date Title Category
October 12, 2012 Stress Tests

Final stress-testing rules, published today in the Federal Register, require the largest bank holding companies and their state member bank subsidiaries to conduct their own stress tests this fall and disclose those results next spring. Holding companies with total assets between $10 billion and $50 billion must conduct their first stress tests in the fall of 2013 and do not need to publicly disclose those first tests’ results.

Bank Supervision
October 2, 2012 Swap Entities

Federal agencies published notice today that they have reopened the comment period on a proposed rule to establish margin and capital requirements for swap dealers, major swap participants, security-based swap dealers, and major security-based swap participants. The reopened comment period will close November 26.

Securities
August 27, 2012 Stress Tests

The Federal Reserve is considering whether to delay the effective date of certain Dodd-Frank Act stress-testing requirements. The delay under consideration, which would apply to company-run stress tests at bank holding companies, state member banks, and savings and loan holding companies with between $10 billion and $50 billion in total consolidated assets, would help ensure that these companies have sufficient time to develop their stress-testing programs.

Bank Supervision
August 15, 2012 Truth in Lending

A new proposed interagency rule would amend the Truth in Lending Act and set new standards for appraisals related to “higher-risk loans,” those residential mortgage loans with APRs exceeding the average prime offer rate for comparable transactions. Comments on the proposal are due October 15, except for comments on the proposal’s Paperwork Reduction Act analysis, which are due 60 days from its forthcoming publication in the Federal Register.

Consumer
August 8, 2012 Basel III

The Federal Reserve has extended the public comment period on the proposed interagency rule, designed to implement the Basel III regulatory capital reforms, until October 22.

Bank Supervision
August 2, 2012 Foreclosure Review

The Federal Reserve and OCC have extended the deadline by which borrowers can seek review of their mortgage foreclosures to December 31.

Consumer
July 30, 2012 Regulation HH

A new final Federal Reserve rule establishes risk-management standards for financial market utilities (FMUs) the Financial Stability Oversight Council designates as systemically important. The rule also sets standards these designated FMUs must meet when they intend to make material changes to their rules, procedures, or operations. The rule takes effect September 14.

Bank Supervision
July 27, 2012 Regulation II

Under newly approved amendments to Reg. II, debit card issuers can receive fraud-prevention adjustments if they develop, implement, and maintain policies and procedures designed to reduce the occurrence and costs of fraudulent debit card transactions. The amended rule takes effect October 1.

Operations
July 12, 2012 Banking Applications

New supervisory guidance outlines a new optional process by which banking organizations can seek the Federal Reserve’s feedback on potential bank acquisitions or other proposals. This new pre-filing process is intended to help ease and shorten the formal application process for infrequent filers, like some community banks, or potential filers with novel proposals.

Bank Supervision
June 29, 2012 Riegle-Neal Act

The federal banking regulatory agencies have updated their host state loan-to-deposit ratios, which the agencies use to determine compliance with Section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994.

Bank Supervision
June 21, 2012 Foreclosure Review

New guidance, released today, will help determine the compensation or other remedy borrowers will receive for financial injury identified during the Independent Foreclosure Review. Eligible borrowers may request a free review of their mortgage foreclosures through September 30.

Consumer
June 21, 2012 Mortgage Servicing

The federal financial regulatory agencies have released new guidance to help ensure that mortgage servicers meet their obligations to military servicemembers who’ve received Permanent Change of Station orders.

Consumer
June 7, 2012 Capital Rules

Three new proposed rules seek to establish an integrated regulatory capital framework. Public comments are due September 7.

Bank Supervision
June 7, 2012 Capital Rules

Changes to the market risk capital rule, which requires banking organizations with significant trading activities to adjust their capital requirements to account for market risk, are now final. The approved final rule takes effect January 1, 2013.

Bank Supervision
June 4, 2012 Securities Holding Companies

A new final rule, published today in the Federal Register and effective July 20, outlines the procedure by which an SHC, a nonbank company that owns at least one registered broker-dealer, can choose Federal Reserve supervision.

Bank Supervision
June 4, 2012 Supervisory Coordination

As part of an effort to minimize unnecessary regulatory burden, the federal financial prudential regulators and the Consumer Financial Protection Bureau have entered a Memorandum of Understanding to coordinate the supervision of insured depository institutions with greater than $10 billion in assets.

Bank Supervision
May 14, 2012 Stress Tests

A new statement from the Federal Reserve, FDIC, and OCC clarifies that stress-testing requirements for banking organizations with total consolidated assets of greater than $10 billion don’t apply to community banks. Community banks should have a sound risk management program, however, that allows them to analyze the potential effect of adverse outcomes.

Bank Supervision
April 12, 2012 Regulation D

A new final rule, published today in the Federal Register, simplifies the administration of reserve requirements. Two of the changes, the discontinuation of certain as-of adjustments and the elimination of the contractual clearing balance program, are effective July 12, 2012. Two others, the creation of a common two-week maintenance period and the replacement of carryover and routine penalty waivers with a penalty-free reserve balance range, are effective January 24, 2013.

Accounts
April 12, 2012 Regulation J

A new final rule, published today in the Federal Register, eliminates references to as-of adjustments, clarifies the application of Regulation J to Fedwire funds transfers, and clarifies rules related to Reserve Bank handling of checks. These amendments take effect July 12, 2012.

Operations
April 10, 2012 Dodd-Frank Act

A new proposed amendment to Regulation Y, published today in the Federal Register, would clarify the definition of “financial activities,” one of the key criteria used to determine whether a company is subject to Title I of the Dodd-Frank Act. The deadline for public comment is May 25.

Bank Supervision
April 5, 2012 Other Real Estate Owned

As part of an orderly OREO disposition strategy, banking organizations may rent residential properties acquired in foreclosure and, to the extent those OREO properties meet the Community Reinvestment Act’s definition of “community development,” receive favorable CRA consideration for them.

Consumer
March 30, 2012 Leveraged Finance

Proposed new guidance, published today in the Federal Register, would replace existing interagency guidance and focus on five main areas: risk-management frameworks; underwriting standards; valuation standards; pipeline management; and reporting and analytics. The deadline for public comment is June 8.

Bank Supervision
February 2, 2012 ALLL Guidance

New supervisory guidance on allowance for loan and lease losses (ALLL) estimation practices, out today, reminds regulated financial institutions to monitor all credit quality indicators relevant to credit portfolios, including loans and lines of credit secured by junior liens on one- to four-family residential properties.

Bank Supervision
Date Title Category
August 31, 2011 Capital One Public Meetings

The Federal Reserve will hold three public meetings to collect information to help it weigh the expected public benefits of Capital One Financial Corporation’s proposed acquisition of ING Bank. The meetings will take place in Washington, DC on September 20, in Chicago on September 27, and in San Francisco on October 5. Requests to testify are due September 9 for the Washington meeting, September 15 for the Chicago meeting, and September 23 for the San Francisco meeting.

Consumer
August 31, 2011 Securities Holding Companies

A new proposal outlines procedures for securities holding companies to elect Federal Reserve supervision. Public comments on the proposal are due October 11.

Bank Supervision
August 22, 2011 Savings and Loan Holding Companies

The Federal Reserve proposes a two-year phase-in for regulatory reporting requirements for most savings and loan holding companies and an initial reporting exemption for others. Public comments on the proposal are due November 1.

Bank Supervision
June 15, 2011 Stress Tests

New federal supervisory guidance, published June 15 in the Federal Register, outlines general principles for satisfactory stress-testing practices at banking organizations with total consolidated assets of $10 billion or greater. Public comments on the guidance are due July 29.

Bank Supervision
June 14, 2011 Risk-based Capital

A final rule, adopted by the Federal Reserve, OCC and FDIC, sets a floor for the risk-based capital requirements applicable to the largest, internationally active banking organizations. The rule takes effect 30 days from publication in the Federal Register.

Bank Supervision
June 13, 2011 Regulations Z and M

The dollar threshold for consumer credit and lease transactions exempt from Regulations Z and M, respectively, has been increased to $50,000 for 2012. This annual adjustment will take effect January 1.

Consumer
June 13, 2011 Regulation Z

The fee dollar amount that triggers additional disclosures for certain home mortgage loans under the Truth in Lending Act and Home Ownership and Equity Protection Act of 1994 has been adjusted to $611 for 2012. This annual adjustment will take effect January 1.

Consumer
June 13, 2011 Small BHCs

An interim final rule, effective upon publication in the Federal Register, will allow small bank holding companies that are S-Corp or Mutual BHCs to exclude certain kinds of subordinated debt from treatment as debt for purposes of the Federal Reserve's Small BHC debt-to-equity standard. Public comments on the rule are due July 30.

Bank Supervision
June 10, 2011 Capital Plans

Under a new proposal, top-tier BHCs with total consolidated assets of $50 billion or greater would have to submit annual capital plans for review by the Federal Reserve. Public comments on the proposal are due August 5.

Bank Supervision
June 7, 2011 Credit Risk Retention

The deadline for public comment on the federal financial regulatory agencies' proposal has been extended to August 1.

Bank Supervision
May 23, 2011 Regulation E

Under a new proposed rule just published in the Federal Register, remittance transfer providers would have to make certain new disclosures to their customers, and those customers would have new rights to error resolution and cancellation. Public comments are due July 22.

Consumer
April 19, 2011 Regulation Z

Under proposed changes to the regulation, creditors would have to determine a prospective borrower's ability to repay before making a loan and establish minimum underwriting standards. These changes implement requirements imposed by the Dodd-Frank Act. Public comments on the proposal are due July 22.

Consumer
April 15, 2011 Savings & Loan Holding Companies

The Federal Reserve, which assumes supervisory and regulatory authority for savings & loan holding companies (SLHCs) and their non-depository subsidiaries on July 21, seeks comment on its proposed supervisory approach to SLHCs. Public comments on the proposal are due May 23.

Bank Supervision
April 14, 2011 Incentive Compensation

A joint proposal from the federal financial regulatory agencies would prohibit certain potentially risky incentive compensation arrangements at financial institutions with more than $1 billion in assets. Public comments on the proposal, which has just been published in the Federal Register, are due May 31.

Bank Supervision
April 14, 2011 Regulation Q

As required by the Dodd-Frank Act, the Board has proposed to repeal its Regulation Q, which prohibits the payment of interest on demand deposits by Federal Reserve member institutions. Public comments on the proposal, which has just been published in the Federal Register, are due May 16.

Operations
March 3, 2011 Regulation CC

Under a proposed amendment to Regulation CC, depositary banks would be entitled to expeditious return of checks only if they agree to receive returned checks electronically and paying banks would be allowed to require electronic presentment of checks presented for same-day settlement. The amendment would also shorten the safe-harbor period for an exception hold to four business days. Public comments on the proposal are due June 3.

Operations
March 1, 2011 Regulations B and V

The Federal Reserve and Federal Trade Commission are proposing new model forms and notices to comply with new credit score disclosure requirements included in the Dodd-Frank Wall Street Reform and Consumer Protection Act. Public comments are due 30 days after publication in the Federal Register.

Consumer
February 14, 2011 Volcker Rule

An approved final rule, just published, explains how much time banking companies and nonbank financial companies supervised by the Federal Reserve will have to make their investments and activities conform to the so-called “Volcker Rule,” which restricts proprietary trading and relationships with hedge funds. The rule takes effect April 1.

Bank Supervision
April 12, 2011 Swaps

A joint rule proposed by five federal agencies, including the Federal Reserve, would impose margin and capital requirements on regulated swap entities. Public comments on the proposal are due June 24.

Bank Supervision
April 12, 2011 Orderly Resolution

Under a proposed rule from the Federal Reserve and FDIC, systemically significant bank holding companies and nonbank financial companies would have to submit annual plans describing their strategies for rapid, orderly resolution in bankruptcy. These companies would also have to submit quarterly credit exposure reports. Public comments on the proposal are due June 10.

Bank Supervision
February 8, 2011 Systemically Important Nonbank Financial Companies

A new proposal sets standards to help determine whether a financial company qualifies for the Federal Reserve's new enhanced consolidated prudential supervision. Comments on the proposal are due March 30.

Bank Supervision
February 3, 2011 Reporting Requirements

The federal bank and thrift regulatory agencies have proposed changes to thrift and thrift holding company reporting requirements. The changes are designed to bring uniformity to reporting requirements for insured banks and savings institutions and to do likewise for all holding companies supervised by the Federal Reserve. Comments on the proposed changes are due in April.

Bank Supervision
February 1, 2011 Truth In Lending

In light of its July 2011 transfer of Truth In Lending authority to the new Bureau of Consumer Financial Protection, the Federal Reserve will not finalize three pending proposed amendments to Regulation Z. The proposed amendments addressed disclosures for closed-end loans and home equity lines of credit, reverse mortgages, and rescission rights.

Consumer
January 31, 2011 SAFE Act

Effective January 31, residential mortgage loan originators employed by banks, thrifts, credit unions, or the Farm Credit System must register with the Nationwide Mortgage Licensing System and Registry.

Consumer
Date Title Category
December 15, 2010 Community Reinvestment Act

A final interagency rule, substantially similar to one proposed this past June, expands Community Reinvestment Act consideration of neighborhood stabilization activities. The rule takes effect next month.

Bank Supervision
December 15, 2010 Basel II

The Federal Reserve, FDIC, and OCC seek comment on proposed new market risk capital rules for banking organizations that engage in significant trading activity. Comments are due in March, 2011.

Bank Supervision
December 13, 2010 Consumer Leasing

New proposed amendments to Regulation Z and Regulation M would apply the Truth In Lending Act and the Consumer Leasing Act, respectively, to consumer credit transactions and leases of up to $50,000. The current limit is $25,000. The proposed amendments are intended to implement requirements in the Dodd-Frank Wall Street Reform and Consumer Protection Act. Public comments are due February 1.

Consumer
December 10, 2010 Appraisal and Evaluation Guidance

New interagency guidance explains minimum regulatory standards for appraisals of collateral for mortgages and other loans. The new guidance replaces previous guidance on the subject.

Bank Supervision
June 21, 2010 Incentive Compensation

New joint final guidance, out today, seeks to ensure that incentive compensation arrangements at banking organizations appropriately tie rewards to longer-term performance and don't undermine the firm's safety and soundness or create undue risks to the financial system.

Bank Supervision
June 17, 2010 Community Reinvestment Act

A new proposed rule would encourage depository institutions to support HUD's Neighborhood Stabilization Program (NSP) by lending and investing to support NSP activities in certain areas.

Consumer
June 15, 2010 Credit Cards

The final rule implementing the Credit CARD Act of 2009 has been approved and will take effect August 22.

Consumer
May 10, 2010 Term Deposit Facility

Over the coming months, the Federal Reserve will conduct up to five small-value offerings of term deposits under the Term Deposit Facility. The first of these offerings could be as early as mid-June. These small-value offerings are designed to allow participants to familiarize themselves with term deposit procedures. The term deposits offered will be simple fixed-rate instruments with maturities of 84 days or less, offered primarily, though not exclusively, through competitive single-price auctions.

The Federal Reserve approved amendments to Reg. D to allow Reserve Banks to offer term deposits. These amendments will take effect 30 days from May 5, the date of their publication in the Federal Register.

Accounts
May 4, 2010 Correspondent Relationships

Final guidance, published today in the Federal Register, addresses risks associated with funding and credit concentrations arising from correspondent relationships.

Bank Supervision
March 23, 2010 Regulation E

A new final rule, part of the Credit CARD Act of 2009’s implementation, restricts, among other things, inactivity fees for gift cards and other kinds of prepaid products. The rule takes effect August 22.

 

Consumer
March 15, 2010 Regulation Z

A new proposed rule, part of the Credit CARD Act of 2009’s implementation, would protect credit card users from unreasonable late payment and other penalty fees and would require card issuers to reconsider interest rate increases. Public comments on the proposed rule are due by April 14.

 

Consumer
February 26, 2010 Credit Cards

The Federal Reserve has launched a new interactive website, designed to help consumers understand the new credit card protections taking effect February 22

 

Consumer
February 26, 2010 Overdraft Fees

The Federal Reserve has clarified the overdraft rules it issued in late 2009 under Regulations E and DD. Public comment on the proposed clarifications are due in late March. A new online manual is designed to help consumers understand new protections against overdraft fees on debit-card and ATM transactions.

 

Consumer
February 19, 2010 Primary Credit

Effective today, the discount rate increases from 0.5 to 0.75 percent. Effective March 18, the typical maximum maturity for primary credit loans will shorten to overnight. The minimum bid rate for the final TAF auction on March 8 will be 0.5 percent, up from 0.25 percent.

 

Accounts
January 7, 2010 Interest Rate Risk

A new advisory, out today, reemphasizes the importance of sound practices to manage interest rate risk.

Bank Supervision
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