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Statement attempts to square interim rule on CECL compliance with new CARES Act provision

March 31, 2020 0

Clarifying the interaction between an interim final rule issued last week, and legislation enacted last week, on delayed implementation of the current expected credit loss (CECL) accounting standard was the aim of a joint statement […]

In another push to bolster credit supply, Fed sets up repo facility for foreign, international monetary groups

March 31, 2020 0

A temporary repurchase agreement facility for foreign and international monetary authorities (FIMA) aimed at bolstering the supply of credit to U.S. households and businesses was unveiled Tuesday by the Federal Reserve. In announcing the FIMA […]

Last-minute relief: Agency extends comment date on proposal governing credit union acquisition of banks on day comments were due

March 30, 2020 0

Sweating over Monday’s deadline to submit your comment letter on “Combination Transactions with Non-Credit Unions?” No worries: take a breather, kick back, grab a cold one – the federal credit union regulator Monday gave you […]

Interim rule gives some banks breathing room on CECL, counterparty credit risk derivatives contracts

March 27, 2020 0

Mitigating effects of the current expected credit loss (CECL) accounting standard for up to two years in banks’ regulatory capital standard is the aim of an interim final rule issued Friday by the federal banking […]

FDIC’s McWilliams, at FSOC, again emphasizes safety of banks and depositors’ funds

March 26, 2020 0

The chairman of the federal insurer of deposits in banks reiterated the safety of federally insured banks amid the coronavirus pandemic during Thursday’s meeting of the federal umbrella Financial Stability Oversight Council (FSOC). “I want […]

FDIC notes financial service workers deemed ‘essential critical infrastructure’ workers during COVID-19 response

March 26, 2020 0

An agency of the Department of Homeland Security (DHS) has provided guidance that identifies financial service sector workers among a list of “critical infrastructure sector” workers who, during the coronavirus crisis, are needed to ensure […]

Bureau puts hold on data collections during crisis; will reschedule exams, enforcement actions ‘to minimize burden’

March 26, 2020 0

Data collections are postponed on such items on home mortgage disclosures and credit card and prepaid accounts until further notice to allow financial institutions firms time to focus on consumer needs during the coronavirus crisis, […]

Fed shifts to monitoring, outreach to financials; reduces exam activities

March 24, 2020 0

Monitoring and outreach to help financial institutions will be the focus of action, and examination activities will be reduced – especially at smaller banks – by the Federal Reserve, the central bank said in a […]

Federal Reserve Banks’ assets hit $4.2 trillion in 2019, central bank reports; transfers to CFPB totaled $519 million

March 23, 2020 0

Combined assets for the 12 Federal Reserve Banks grew $116 billion to a total of $4.2 trillion in the year ending Dec. 31, 2019, with total earnings at $55.5 billion, down $7.6 million from the […]

Fed adds to ‘aggressive efforts’ to limit job losses, incomes – and promote swift recovery

March 23, 2020 0

Describing its efforts as “extensive new measures to support the economy,” the Federal Reserve early Monday announced at least a half-dozen additional measures to address the “tremendous hardship” caused by the coronavirus pandemic both domestically […]

Statement attempts to square interim rule on CECL compliance with new CARES Act provision

In another push to bolster credit supply, Fed sets up repo facility for foreign, international monetary groups

Last-minute relief: Agency extends comment date on proposal governing credit union acquisition of banks on day comments were due

Interim rule gives some banks breathing room on CECL, counterparty credit risk derivatives contracts

FDIC’s McWilliams, at FSOC, again emphasizes safety of banks and depositors’ funds

FDIC notes financial service workers deemed ‘essential critical infrastructure’ workers during COVID-19 response

Bureau puts hold on data collections during crisis; will reschedule exams, enforcement actions ‘to minimize burden’

Fed shifts to monitoring, outreach to financials; reduces exam activities

Federal Reserve Banks’ assets hit $4.2 trillion in 2019, central bank reports; transfers to CFPB totaled $519 million

Fed adds to ‘aggressive efforts’ to limit job losses, incomes – and promote swift recovery

‘Unilateral’ decision on blocking credit union reporting of overdraft fees creates rift among regulator board members

Comments due April 10 on bank merger policy rescission; FDIC plans future revision

Michigan bank, after many enforcement actions for phony loan program, acquired by Florida banking firm

First meeting of FSOC under new administration to be held entirely in executive session

Office hours focusing on topics of crypto, fintechs, innovation set for May by OCC