Latest developments from the Office of the Comptroller of the Currency (regulator of national banks)
Federal regulators on Friday issued a statement urging banks to begin working “without delay” to transition away from LIBOR (the London Interbank Offered Rate) as a reference rate in their loan contracts. “A bank may […]
A revised “Director’s Book: Role of Directors for National Banks and Savings Associations” and a newly published “Director’s Reference Guide to Board Reports and Information” were announced Thursday by the Office of the Comptroller of […]
Public comments on a proposed rule codifying a 2018 statement on the role of supervisory guidance – binding regulators to that guidance and stating that such guidance does not have the force and effect of […]
Risks facing national banks in the last quarter of 2020 (and going into 2021) will be outlined Nov. 9 by the federal regulator of the institutions in a press conference, the agency said Wednesday. In […]
Title: Role of Supervisory Guidance Subject: Supervisory guidance Agency: CFPB, FDIC, Federal Reserve, NCUA, OCC Status: Final rule Summary: The OCC, Board, FDIC, NCUA, and Bureau (collectively, the agencies) adopted a final rule that codifies […]
A bulletin rescinding three previous ones to accommodate banking regulators’ recent rulemaking on the treatment of banks’ participation in three emergency funding facilities created to mitigate the negative impacts of COVID-19 was issued Tuesday by […]
Certain categories of qualified financial contracts (QFCs) entered into by foreign subsidiaries of large, systemically important banks are exempted from general stay-and-transfer provisions of the U.S. special resolution regimes, the national bank and thrift regulator […]
Six of the 22 banks whose Community Reinvestment Act (CRA) evaluations became public in October earned ratings of “outstanding,” with the remaining institutions rated “satisfactory,” the Office of the Comptroller of the Currency (OCC) said […]
Social Finance, Inc., this week obtained preliminary approval of its application to establish a full-service national bank – to be named SoFi Bank, National Association, and based in Utah – from the Office of the […]
A proposal outlining and confirming federal financial institution regulators’ use of supervisory guidance for regulated institutions was issued for a 60-day comment period, the regulators announced Thursday. In individual press releases, the federal banking agencies, […]
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