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.

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July 21, 2015

Flood Insurance

A new final interagency rule, published today in the Federal Register, requires regulated lending institutions to escrow flood insurance premiums and fees for loans extended, increased, or renewed on or after January 1, 2016 and secured by residential improved real estate. The changes implement certain provisions of the Homeowner Flood Insurance Affordability Act of 2014 and integrate the OCC’s flood insurance regulations for national banks and federal savings associations.

July 20, 2015

Regulatory Capital

A new final rule will require the most systemically important U.S. bank holding companies to hold additional capital. The rule establishes criteria to identify those firms and the methods those firms will use to calculate a risk-based capital surcharge. The surcharges will be phased in beginning January 1, 2016 and be fully effective January 1, 2019.

July 20, 2015

Enhanced Prudential Standards

A final order has established the enhanced prudential standards and a compliance timeline for General Electric Capital Corporation, a nonbank financial company designated for Board of Governors supervision by the Financial Stability Oversight Council.

July 17, 2015

Regulatory Capital

A new proposed rule would modify the Federal Reserve’s capital-planning and stress-testing regulations. The proposed changes would take effect for the 2016 cycles. The deadline for public comment is September 24, 2015.

June 18, 2015

Regulation D

A new final rule is set to take effect. Unchanged from the version first published in April, the rule bases interest payments on excess balances on a daily rate, rather than a two-week average rate.

June 16, 2015

Regulatory Capital

New final interagency capital rules, applicable to large banking organizations that calculate their capital ratios according to the “advanced approaches” rule, take effect October 1, 2015.

June 9, 2015

Dodd-Frank Act

As directed by the Dodd-Frank Act, a new final interagency rule sets standards for assessing the policies and practices supervised financial institutions use to promote diversity and inclusion in their business, management, and employment activities. The federal financial supervisory agencies seek public comment on the information-collection process these new standards will entail. The deadline for public comment is August 10, 2015.

May 27, 2015

Automated Clearing House

Proposed enhancements to the ACH network, published today in the Federal Register, would require receiving depository financial institutions to participate in same-day ACH service and require originating depository financial institutions to pay a fee to RDFIs for each same-day ACH forward transaction. The voting members of NACHA – The Electronic Payments Association recently approved the changes, and Reserve Banks would incorporate the changes into their Operating Circular 4. The deadline for public comment on Reserve Banks’ adoption of these changes is July 2, 2015.

May 21, 2015

Liquidity Coverage Ratio

A new proposed rule would add certain general-obligation state and municipal bonds to the list of assets a large banking organization can use to satisfy the LCR, a requirement designed to ensure large banking organizations can meet their liquidity needs during periods of financial stress. The change would affect only those institutions supervised by the Federal Reserve and subject to the LCR. The deadline for public comment is July 24, 2015.

April 30, 2015

Mortgage Appraisals

A new interagency final rule sets minimum requirements for state registration and supervision of companies that provide appraisal management services to lenders, underwriters, or other principals in the secondary mortgage markets. The rule takes effect 60 days after publication in the Federal Register, which is expected soon, and federally regulated appraisal management companies must comply no later than 12 months from the effective date. Non-federally regulated appraisal management companies in states that have not established their own regulatory structures within 36 months of the effective date will not be allowed to provide appraisal management services for federally related transactions.

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