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Regulatory News

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

Feb. 15, 2019

Federal banking agencies have extended the deadline for public comment on a proposal to update the standards for measuring counterparty risk posed by derivative contracts. The new deadline is March 18, 2019.

Feb. 15, 2019

The Federal Reserve Board has extended the deadline for public comment on its proposal to modify company-run stress testing requirements. The new deadline is March 21, 2019.

Feb. 13, 2019

The Federal Reserve Board identified an error in the dataset used in its 2019 stress tests and has issued a correction. A mortgage rate was published as 4.6 percent and should have been 4.8 percent.

Feb. 12, 2019

A joint interagency final rule implements provisions of the Biggert-Waters Flood Insurance Reform Act of 2012. The final rule requires regulated institutions to accept certain private flood insurance policies in addition to National Flood Insurance Program policies. The rule takes effect July 1, 2019.

Feb. 9, 2019

A new interagency proposal, published today in the Federal Register, would exclude certain community banks from the restrictions of the Volcker Rule, The exclusions, which are designed to conform with the Economic Growth, Regulatory Relief, and Consumer Protection Act, would apply to community banks with $10 billion or less in total consolidated assets and total trading assets and liabilities amounting to 5 percent or less of total consolidated assets. The deadline for public comment is April 9, 2019.

Feb. 5, 2019

New changes to the Federal Reserve’s stress testing program will enhance the program’s transparency for the largest and most complex U.S. banks. The changes include more information about the stress test models used in the annual Comprehensive Capital Analysis and Review, more information about hypothetical economic scenarios, and a stress testing policy statement.

Jan. 31, 2019

A new interagency proposal, published today in the Federal Register, would raise the threshold for the major-assets management interlock prohibition. Currently, a management official at a depository organization with greater than $2.5 billion in total consolidated assets cannot serve as a management official at another unaffiliated depository organization with greater than $1.5 billion in total consolidated assets. The proposal would raise both asset thresholds to $10 billion. The deadline for public comment is April 1, 2019.

Jan. 11, 2019

Regulatory agencies at both the federal and state level have encouraged financial institutions to work with consumers affected by the federal government shutdown by considering prudent workout arrangements that are consistent with safe-and-sound lending practices.

Jan. 8, 2019

A new proposal would raise the threshold for state member bank company-run stress tests from $10 billion in total consolidated assets to $250 billion and would require those company-run stress tests every other year. The proposal would also eliminate the hypothetical “adverse” scenario for all institutions subject to stress tests. The new requirements are to designed to conform with the Economic Growth, Regulatory Relief, and Consumer Protection Act. The deadline for public comment is February 19, 2019.

Dec. 28, 2018

Federal bank regulatory agencies have reminded banks, savings associations, and Farm Credit institutions that they can continue to make loans during periods when the National Flood Insurance Program is unavailable.

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