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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Sept. 20, 2017

Community Reinvestment Act

A new proposed interagency rule, published today in the Federal Register, would amend the federal bank regulatory agencies’ Community Reinvestment Act regulations to conform to changes the Consumer Financial Protection Bureau has made to Regulation C, which implements the Home Mortgage Disclosure Act. The agencies anticipate that the proposed amendments will take effect on January 1, 2018. The deadline for public comment is October 20, 2017.

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Sept. 6, 2017

Hurricane Irma

In a joint statement, federal and state banking regulators have committed to provide regulatory assistance to supervised institutions in areas affected by Hurricane Irma and encourage those institutions to meet the financial services needs of their communities.

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Sept. 1, 2017

Financial Stability

A new final rule will require U.S. global systemically important banking institutions (GSIBs) and the U.S. operations of foreign GSIBs to amend qualified financial contracts to prevent their immediate cancellation or termination if a GSIB enters bankruptcy or a resolution process. The compliance phase-in will begin January 1, 2019.

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Aug. 30, 2017

Repurchase Transactions

A new proposal, published today in the Federal Register, lays out three new reference interest rates based on overnight repurchase agreement transactions secured by U.S. Treasury securities. The Federal Reserve Bank of New York, in cooperation with the Office of Financial Research, would produce the rates. The deadline for public comment is October 30, 2017.

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Aug. 26, 2017

Hurricane Harvey

In a joint statement, federal and state banking regulators have committed to provide regulatory assistance to supervised institutions in areas affected by Hurricane Harvey and encourage those institutions to meet the financial services needs of their communities.

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Aug. 25, 2017

Regulatory Capital

In preparation for forthcoming regulation to simply regulatory capital requirements, a new proposed interagency rule, published today in the Federal Register, would extend existing transitional capital treatment for certain regulatory capital deductions and risk weights. The extension would apply to those banking organizations, generally those with less than $250 billion in total consolidated assets and less than $10 billion in total foreign exposure, that aren’t subject to the agencies’ advanced-approaches capital rules. The deadline for public comment is September 25, 2017.

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Aug. 9, 2017

Corporate Governance

A new proposed rule, published today in the Federal Register, would refocus the Federal Reserve's supervisory expectations for the largest banking organizations’ boards of directors in order to improve corporate governance, increase efficiency, support greater accountability, and promote compliance with laws and regulations. The deadline for public comment is October 10, 2017.

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July 31, 2017

Commercial Real Estate

A new proposed rule, published today in the Federal Register, would increase the threshold level above which appraisals wouldn’t be required for commercial real estate transactions. The current threshold is $250,000 and the proposed rule would raise that threshold to $400,000. The deadline for public comment is September 29, 2017. 

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July 21, 2017

Volcker Rule

Five federal financial regulatory agencies are coordinating their respective reviews of the treatment of certain foreign funds under Section 619 of the Dodd-Frank Act, commonly referred to as “the Volcker Rule.” These foreign funds are investment funds organized and offered outside the U.S. and excluded from the definition of “covered fund” under the agencies’ implementing regulations, which were issued in 2013. Section 619 generally prohibits insured depository institutions and their affiliates from engaging in proprietary trading and from investing in, sponsoring, or having certain relationships with hedge funds or private equity funds. The agencies are now considering ways to mitigate possible unintended consequences and extraterritorial impact. To that end, the agencies will not take action under Section 619 for qualifying foreign excluded funds, subject to certain conditions, for a period of one year.

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June 2, 2017

Regulation CC

New final amendments to Reg CC’s check collection and return provisions create a framework for electronic check collection and return and create new warranties for electronic checks. These amendments take effect July 1, 2018. Additional proposed amendments to Reg CC, published today in the Federal Register, would create a presumption in certain disputes that a substitute or electronic check has been altered rather than forged. The presumption is intended to clarify the burden of proof in these disputes. The deadline for public comment is August 1, 2017.

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