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Regulatory News

We implement congressional laws on a wide range of banking and financial activities, in part through regulations. When modifications to these regulations are proposed to meet the current needs of the financial community, the public is invited to provide input via the comment letter process.

Dec. 27, 2022

A notice, published December 27, 2022 in the Federal Register, makes technical updates to the Federal Reserve Board’s policy governing the provision of intraday credit in accounts at Reserve Banks to accommodate enhancements to the Automated Claim Adjustment Process. The updates streamline the settlement process and shorten the time needed for debits and credits to settle.  The policy changes are effective January 30, 2023.

Dec. 19, 2022

A notice, published December 19, 2022 in the Federal Register, extends the comment period on an advance notice of proposed rulemaking to enhance regulators' ability to resolve large banks in an orderly way should they fail.  The advance notice of proposed rulemaking, originally published in the Federal Register October 24, 2022, asks for comment on several potential new requirements and resources that could be used for an orderly resolution of large banking organizations, including a long-term debt requirement.  The new deadline for public comment is January 23, 2023.

Dec. 8, 2022

A notice and request for comment, published December 8, 2022 in the Federal Register, requests feedback on proposed principles providing a high-level framework for the safe and sound management of exposures to climate-related financial risks for large banking organizations. The draft principles are intended to support efforts by large financial institutions to focus on key aspects of climate-related financial risk management.  The deadline for public comment is February 6, 2023.

 
Dec. 8, 2022

A notice, published December 8, 2022 in the Federal Register, finalizes clarifying and technical updates to the Federal Reserve policy governing the provision of intraday credit. The updates expand access to collateralized intraday credit, clarify requirements for uncollateralized intraday credit, reduce administrative requirements, and support the launch of the FedNow℠ Service.  FedNow℠ Service and Overnight Drafts policy related changes are effective when Reserve Banks begin processing live transactions for FedNow℠ Service participants.  The remaining changes are effective February 6, 2023.

Nov. 16, 2022

A notice and request for comment, published November 16, 2022 in the Federal Register, seeks feedback on proposed amendments to its Guidelines for Evaluating Account and Services Requests that would require the Federal Reserve Banks to publish a periodic list of depository institutions with access to Reserve Bank accounts and/or financial services. The deadline for public comment is effective January 17, 2023.

Oct. 24, 2022

An advance notice of proposed rulemaking, published October 24, 2022 in the Federal Register, solicits public comment on potential changes that would enhance regulators' ability to resolve large banks in an orderly way should they fail.  The advance notice of proposed rulemaking asks for comment on several potential new requirements and resources that could be used for an orderly resolution of these large banking organizations, including a long-term debt requirement. The deadline for public comment is December 23, 2022.

Oct. 11, 2022

A final rule, published October 11, 2022 in the Federal Register, amends Regulation II, concerning debit card transactions.  The final rule specifies that debit card issuers should enable at least two payment card networks to process all debit card transactions, including "card-not-present" transactions, such as online payments, and clarifies certain terminology.  The final rule is substantially similar to the proposal, published May 13, 2021 in the Federal Register. The final rule is effective July 1, 2023.

Oct. 4, 2022

Final guidance, published October 4, 2022 in the Federal Register, provides a supervisory framework for depository institution holding companies significantly engaged in insurance activities.  The framework applies supervisory guidance and resources based on the insurance organization's risk. The framework also establishes a supervisory rating system for firms based on their risk profiles and describes how examiners incorporate the work of state insurance regulators.  The final guidance is substantially similar to the proposed guidance, published February 4, 2022 in the Federal Register.  The final guidance is effective November 1, 2022.

Sept. 15, 2022

Proposed guidance, published September 15, 2022 in the Federal Register, would update 2009 guidance on commercial real estate loan accommodations for borrowers. It would also add new guidance on short-term loan accommodations and address recent accounting changes for estimating loan losses and provide updated examples of how to classify and account for loans subject to loan accommodations. The deadline for public comment is November 14, 2022. 

Aug. 19, 2022

Final guidance, published August 19, 2022 in the Federal Register, establishes a transparent, risk-based, and consistent set of factors for Reserve Banks to use in reviewing requests to access Federal Reserve accounts and payment services. These new guidelines include a tiered review framework to clarify the level of due diligence and scrutiny that apply to different types of institutions. These final guidelines are substantially similar to those proposed by the Board of Governors of the Federal Reserve System in its May 2021 proposal and March 2022 supplemental proposal.  The final guidance is effective August 19, 2022. 

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