Latest developments from the Office of the Comptroller of the Currency (regulator of national banks)
A proposed rulemaking to exclude “a majority of community banks” from restrictions on proprietary trading – the “Volcker Rule” – consistent with last year’s financial regulatory relief law is highlighted in a bulletin issued Monday […]
Violations of the Bank Secrecy Act (BSA) and related rules are continuing to be addressed by three federal branches of MUFG Bank Ltd., Tokyo, Japan, under a consent cease-and-desist (C&D) order executed Thursday with the […]
A flood insurance rule that, effective July 1, will require lenders to accept policies meeting the statutory definition of “private flood insurance” is explained in a bulletin issued to national banks and federal savings associations […]
The federal regulator of national banks followed erroneous guidance on certain employee ethics requirements for 15 years despite subsequent guidance issued by the Treasury that should have cleared up any ambiguity, a letter from the […]
Title: Regulatory Capital Treatment for High Volatility Commercial Real Estate (HVCRE) Exposures Subject: HVCRE Agency: OCC, Federal Reserve, FDIC Status: Final rule Summary: The Office of the Comptroller of the Currency, the Board of Governors […]
A consent cease-and-desist order with USAA Federal Savings Bank (San Antonio, Texas), a civil money penalty against a former Oklahoma banker, and a prohibition order against a former banker indicted in a currency manipulation case […]
The comment period was extended Friday by one month for a proposed rule to update the standards for regulators about how financial firms measure counterparty credit risk posed by derivative contracts. The extension means comments […]
The federal regulator of national banks and federal savings associations issued a bulletin Wednesday pointing supervised institutions to the proposed stress testing rule that was published this week in the Federal Register. In Bulletin 2019-7, […]
A final rule providing the option for financial institutions and firms to phase in over a three-year period the day-one regulatory capital effects of the “current expected credit losses” (CECL) accounting methodology is finally scheduled […]
Title: Regulatory Capital Rule: Implementation and Transition of the Current Expected Credit Losses Methodology for Allowances and Related Adjustments to the Regulatory Capital Rule and Conforming Amendments to Other Regulations Subject: CECL Agency: FDIC, Federal […]
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