tag:blogger.com,1999:blog-86819881203615860932018-05-11T14:09:04.136-04:00ABA Dodd-Frank TrackerABA Regulatory Policy Staff 2http://www.blogger.com/profile/11301563447196059381noreply@blogger.comBlogger428125tag:blogger.com,1999:blog-8681988120361586093.post-90362191211602401902017-07-11T09:41:00.001-04:002017-07-11T09:41:28.062-04:00FDIC Seeks Comment on New Deposit Insurance Processing Manual<span style="font-family: Arial, sans-serif; font-size: 10pt;">As part of its ongoing work to facilitate the chartering of de novo institutions, the FDIC is seeking feedback on a manual released to guide agency staff as they evaluate and process deposit insurance applications. <br /><br />The manual covers general deposit insurance application matters, pre-filing activities, application receipt, review and acceptance, application processing, pre-opening activities and post-opening considerations. The FDIC is seeking input specifically on how well the manual helps bank organizers understand the application process. Comments are due Sept. 8. <br /><br />The release of the manual is the latest in a series of steps by the FDIC to encourage new bank charters. Previously, the agency released a handbook on deposit insurance for de novo organizers, conducted regional outreach and issued FAQs on the application process. The FDIC also reduced the period of enhanced supervision for de novo banks from seven years to three.</span><br /><span style="font-family: Arial, sans-serif; font-size: 10pt;"><strong><br /></strong></span><span style="font-family: Arial, sans-serif; font-size: 10pt;"><strong><span style="color: #005a8c;"><a href="http://app.response.aba.com/e/er?utm_campaign=ABA-Newsbytes-071117-%20HTML&utm_medium=email&utm_source=Eloqua&s=1527&lid=8950&elqTrackId=20356967057e479ea6b2851b3b0bc4b5&elq=299646a38cc74b50810c9ff46d3985fe&elqaid=16583&elqat=1" target="_blank">Read the manual</a></span></strong>. </span>ABA Regulatory Policy Staff 2http://www.blogger.com/profile/11301563447196059381noreply@blogger.com3tag:blogger.com,1999:blog-8681988120361586093.post-2321421149702637612017-06-16T11:55:00.000-04:002017-06-16T11:55:19.038-04:00The Week Ahead: June 19 - 23<div><b>Monday</b></div><ul><li>Comments Due SBA: <b>Data Collection Available for Public Comments (PRA)</b><br /><a href="https://www.gpo.gov/fdsys/pkg/FR-2017-04-19/pdf/2017-07836.pdf" target="_blank">Read more.</a></li><li>Comments Due SBA: <b>Portfolio Financing Reports</b><br /><a href="https://www.gpo.gov/fdsys/pkg/FR-2017-04-19/pdf/2017-07836.pdf" target="_blank">Read more.</a></li><li>Comments Due SBA: <b>SBIC Financial Reports</b><br /><a href="https://www.gpo.gov/fdsys/pkg/FR-2017-04-19/pdf/2017-07836.pdf" target="_blank">Read more.</a></li><li>Comments Due SBA: <b>Small Business Size Standards; Adoption of 2017 North American Industry Classification System for Size Standards</b><br /><a href="https://www.gpo.gov/fdsys/pkg/FR-2017-04-18/pdf/2017-07709.pdf" target="_blank">Read more.</a></li></ul><div><b>Tuesday</b></div><ul><li>Comments Due CFTC: <b>Real-Time Public Reporting and Block (PRA)</b><br /><a href="https://www.gpo.gov/fdsys/pkg/FR-2017-04-21/pdf/2017-08097.pdf" target="_blank">Read more.</a></li><li>Comments Due FRB: <b>Survey of Small Business and Farm Lending (PRA)</b><br /><a href="https://www.gpo.gov/fdsys/pkg/FR-2017-04-21/pdf/2017-08072.pdf" target="_blank">Read more.</a></li></ul><br /><div><b>Thursday</b></div><ul><li>Comments Due FDIC: <b>Agency Information Collection Activities: Submission for OMB Review; Comment Request (PRA)</b><br /><a href="https://www.gpo.gov/fdsys/pkg/FR-2017-05-23/pdf/2017-10443.pdf" target="_blank">Read more.</a></li><li>Comments Due FDIC: <b>Foreign Banking and Investment by Insured State Nonmember Banks</b><br /><a href="https://www.gpo.gov/fdsys/pkg/FR-2017-05-23/pdf/2017-10443.pdf" target="_blank">Read more.</a></li><li>Comments Due FDIC: <b>Forms Relating to Processing Deposit Insurance Claims</b><br /><a href="https://www.gpo.gov/fdsys/pkg/FR-2017-05-23/pdf/2017-10443.pdf" target="_blank">Read more.</a></li><li>Comments Due FDIC: <b>Interagency Notice of Change in Control</b><br /><a href="https://www.gpo.gov/fdsys/pkg/FR-2017-05-23/pdf/2017-10443.pdf" target="_blank">Read more.</a></li><li>Comments Due FDIC: <b>Procedures for Monitoring Bank Secrecy Act Compliance</b><br /><a href="https://www.gpo.gov/fdsys/pkg/FR-2017-05-23/pdf/2017-10443.pdf" target="_blank">Read more.</a></li><li>9:30 AM Meeting SEC: <b>Investor Advisory Committee Meeting</b><br /><a href="https://www.gpo.gov/fdsys/pkg/FR-2017-05-31/pdf/2017-11178.pdf" target="_blank">Read more.</a></li></ul><div><b>Friday</b></div><ul><li>Comments Due SEC: <b>Rule 15c3-1 (PRA)</b><br /><a href="https://www.gpo.gov/fdsys/pkg/FR-2017-05-24/pdf/2017-10620.pdf" target="_blank">Read more</a></li><li>Effective Date CFTC: <b>Disclosure and Retention of Certain Information Relating to Cleared Swaps Customer Collateral (PRA)</b><br /><a href="https://www.gpo.gov/fdsys/pkg/FR-2017-04-24/pdf/2017-08161.pdf" target="_blank">Read more.</a></li><li>Effective Date CFTC: <b>Fees for Reviews of the Rule Enforcement Programs of Designated Contract Markets and Registered Futures Associations</b><br /><a href="https://www.gpo.gov/fdsys/pkg/FR-2017-04-24/pdf/2017-08222.pdf" target="_blank">Read more.</a></li></ul><br />All times in Eastern Standard Time. See future events on the <a href="http://regreformtracker.aba.com/p/dodd-frank-calendar.html" target="_blank">Dodd-Frank Calendar</a>.<br />ABA Regulatory Policy Staff 2http://www.blogger.com/profile/11301563447196059381noreply@blogger.com0tag:blogger.com,1999:blog-8681988120361586093.post-29311307852354306682017-05-19T10:29:00.000-04:002017-05-19T10:29:44.423-04:00FDIC Offers Free Seminars on Deposit Insurance<span style="font-family: "arial" , sans-serif; font-size: 10pt;">The FDIC will conduct four free live seminars on FDIC deposit insurance coverage for bank employees and bank officers. The seminars will take place between June 6 and Dec. 4 and will follow an identical format. Presenters will give an overview of FDIC deposit insurance rules, details on the FDIC’s most popular deposit insurance resources and information about coverage for prepaid cards, health savings accounts and various 529 plan accounts.<br /><br />The agency has also made three additional free seminars available on its YouTube channel, which cover fundamentals of deposit insurance coverage, revocable trust and other advanced topics.</span><br /><span style="font-family: "arial" , sans-serif; font-size: 10pt;"><strong><br /></strong></span><span style="font-family: "arial" , sans-serif; font-size: 10pt;"><strong><span style="color: #005a8c;"><a href="http://app.response.aba.com/e/er?utm_campaign=ABA-Newsbytes-051917-HTML&utm_medium=email&utm_source=Eloqua&s=1527&lid=8216&elqTrackId=343874bb950d423db035062ab9525519&elq=b2f0c1afd06f45559cd8f980118f42c8&elqaid=16001&elqat=1" target="_blank">Read more</a></span></strong>.</span>ABA Regulatory Policy Staff 2http://www.blogger.com/profile/11301563447196059381noreply@blogger.com1tag:blogger.com,1999:blog-8681988120361586093.post-77784920957124657472017-05-02T10:20:00.000-04:002017-05-02T10:20:00.154-04:00FDIC Releases Final De Novo HandbookThe FDIC has released the final version of its long-awaited handbook to help de novo banks apply for deposit insurance. The handbook provides information to new bank organizers on pre-filing activities, the de novo application process and pre-opening activities. While it does not establish new policy or guidance or modify existing guidance, the handbook provides greater transparency on the FDIC’s review and approval process. The FDIC previously requested feedback on a draft of the handbook, and the final version incorporates clarifications sought by commenters, the agency said.<br /><br />De novo banks have been scarce in the years since the financial crisis, though de novo activity began to pick up toward the end of 2016. The release of the handbook is the latest in a series of FDIC actions intended to encourage new bank charters. Previously, the FDIC said that it would reduce the de novo period from seven years to three years, updated its guidance on regulatory expectations for new banks and hosted information sessions to help prospective institutions better understand how to apply for deposit insurance.<br /><br />ABA has long advocated for regulators to do more to spur de novo formation and will continue to engage with the FDIC and other agencies to support the formation of new banks.<br /><br /><a href="https://www.fdic.gov/regulations/applications/handbook.pdf" target="_blank">Download the handbook</a>.ABA Regulatory Policy Staff 2http://www.blogger.com/profile/11301563447196059381noreply@blogger.com0tag:blogger.com,1999:blog-8681988120361586093.post-75052174874506884192017-04-07T11:30:00.000-04:002017-04-07T11:30:10.992-04:00The Week Ahead: April 10-14<div><b>Monday</b></div><ul><li>Comments Due FDIC: <b>Agency Information Collection Activities: Proposed Collection Renewals; Comment Request (3064-0019, -0061, -0087 & -0143) (PRA)</b><br /><a href="https://www.gpo.gov/fdsys/pkg/FR-2017-02-09/pdf/2017-02634.pdf" target="_blank">Read more.</a></li><li>Comments Due FDIC: <b>Foreign Banking and Investment by Insured State Nonmember Banks</b><br /><a href="https://www.gpo.gov/fdsys/pkg/FR-2017-02-09/pdf/2017-02634.pdf" target="_blank">Read more.</a></li><li>Comments Due FDIC: <b>Forms Relating to Processing Deposit Insurance Claims</b><br /><a href="https://www.gpo.gov/fdsys/pkg/FR-2017-02-09/pdf/2017-02634.pdf" target="_blank">Read more.</a></li><li>Comments Due FDIC: <b>Interagency Notice of Change in Control</b><br /><a href="https://www.gpo.gov/fdsys/pkg/FR-2017-02-09/pdf/2017-02634.pdf" target="_blank">Read more.</a></li><li>Comments Due FDIC: <b>Procedures for Monitoring Bank Secrecy Act Compliance</b><br /><a href="https://www.gpo.gov/fdsys/pkg/FR-2017-02-09/pdf/2017-02634.pdf" target="_blank">Read more.</a></li><li>Comments Due FFIEC: <b>Appraisal Subcommittee; Proposed Revised Policy Statements</b><br /><a href="https://www.gpo.gov/fdsys/pkg/FR-2017-01-10/pdf/2017-00262.pdf" target="_blank">Read more.</a></li><li>Comments Due OCC: <b>Capital Adequacy Standards (PRA)</b><br /><a href="https://www.gpo.gov/fdsys/pkg/FR-2017-02-08/pdf/2017-02583.pdf" target="_blank">Read more.</a></li><li>Comments Due SBA: <b>Civil Monetary Penalties Inflation Adjustments</b><br /><a href="https://www.gpo.gov/fdsys/pkg/FR-2017-02-09/pdf/2017-02657.pdf" target="_blank">Read more.</a></li></ul><div><b> Tuesday </b></div><ul><li>Implementation Date SEC: <b>Standards for Covered Clearing Agencies; Final Rule</b><br /><a href="https://www.gpo.gov/fdsys/pkg/FR-2016-10-13/pdf/2016-23891.pdf" target="_blank">Read more.</a></li></ul><div><b>Friday</b></div><ul><li>Comments Due FRB: <b>Proposed Agency Information Collection Activities; Comment Request</b><br /><a href="https://www.gpo.gov/fdsys/pkg/FR-2017-02-13/pdf/2017-02827.pdf" target="_blank">Read more.</a></li></ul><br />All times in Eastern Standard Time. See future events on the <a href="http://regreformtracker.aba.com/p/dodd-frank-calendar.html" target="_blank">Dodd-Frank Calendar</a>.<br />ABA Regulatory Policy Staff 2http://www.blogger.com/profile/11301563447196059381noreply@blogger.com0tag:blogger.com,1999:blog-8681988120361586093.post-71137218012366629752017-03-24T11:00:00.000-04:002017-03-24T11:00:17.250-04:00Week of March 26 - April 1<div><b>Monday</b></div><ul><li>Comments Due SBA: <b>Secondary Participation Guaranty Agreement (PRA)</b><br /><a href="https://www.gpo.gov/fdsys/pkg/FR-2017-02-24/pdf/2017-03663.pdf" target="_blank">Read more.</a></li><li>Effective Date FRB: <b>Federal Reserve Bank Capital Stock</b><br /><a href="https://www.gpo.gov/fdsys/pkg/FR-2017-02-24/pdf/2017-03568.pdf" target="_blank">Read more.</a></li></ul><div><b>Tuesday</b></div><ul><li>9AM Meeting FDIC: <b>FDIC Advisory Committee on Community Banking; Notice of Meeting</b><br /><a href="https://www.gpo.gov/fdsys/pkg/FR-2017-03-13/pdf/2017-04838.pdf" target="_blank">Read more.</a></li></ul><div><b>Wednesday</b></div><ul><li>Comments Due SBA: <b>Small Business Size Standards: Waiver of the Nonmanufacturer Rule</b><br /><a href="https://www.gpo.gov/fdsys/pkg/FR-2017-03-14/pdf/2017-04920.pdf" target="_blank">Read more.</a></li></ul><div><b>Friday</b></div><ul><li>Effective Date FFIEC: <b>Uniform Interagency Consumer Compliance Rating System</b><br /><a href="https://www.gpo.gov/fdsys/pkg/FR-2016-11-14/pdf/2016-27226.pdf" target="_blank">Read more.</a></li></ul><br /><div><b>Saturday</b></div><ul><li>Effective Date EBSA: <b>Recordkeeping for Timely Deposit Insurance Determination; Final Rule</b><br /><a href="https://www.gpo.gov/fdsys/pkg/FR-2016-12-05/pdf/2016-28396.pdf" target="_blank">Read more.</a></li><li>Effective Date FRB: <b>Liquidity Coverage Ratio: Public Disclosure Requirements; Extension of Compliance Period for Certain Companies To Meet the Liquidity Coverage Ratio Requirements</b><br /><a href="https://www.gpo.gov/fdsys/pkg/FR-2016-12-27/pdf/2016-30859.pdf" target="_blank">Read more.</a></li><li>Effective Date OCC: <b>Economic Growth and Regulatory Paperwork Reduction Act of 1996 Amendments; Final Rule (PRA)</b><br /><a href="https://www.gpo.gov/fdsys/pkg/FR-2017-01-23/pdf/2016-30502.pdf" target="_blank">Read more.</a></li><li>Effective Date OCC: <b>Industrial and Commercial Metals</b><br /><a href="https://www.gpo.gov/fdsys/pkg/FR-2016-12-30/pdf/2016-31572.pdf" target="_blank">Read more.</a></li></ul><br />All times in Eastern Standard Time. See future events on the <a href="http://regreformtracker.aba.com/p/dodd-frank-calendar.html" target="_blank">Dodd-Frank Calendar</a>.ABA Regulatory Policy Staff 2http://www.blogger.com/profile/11301563447196059381noreply@blogger.com0tag:blogger.com,1999:blog-8681988120361586093.post-68630882844107052922016-12-27T10:15:00.000-05:002016-12-27T10:15:16.776-05:00FDIC Seeks Comment on New De Novo HandbookThe FDIC is asking for comments on a new handbook it has developed to help de novo banks apply for deposit insurance. The handbook offers guidance to new banks on pre-filing activities, the de novo application process and pre-opening activities. While it does not establish new policy or guidance or modify existing guidance, the handbook provides greater transparency on the FDIC’s review and approval process for de novos. <br /><br />In its request for comment, the FDIC asked for feedback on the clarity and transparency provided by the handbook; whether it adequately addresses the requirements and procedures for all three phases of the de novo process; the quality of information it provides to organizers with and without previous banking experience; and on the helpfulness of comments from successful bank CEOs regarding de novo formation. <br /><br />ABA has long advocated for regulators to increase their efforts to spur de novo formation and welcomed the FDIC’s announcement, the latest in a series of steps taken by the agency to encourage new bank charters. Previously, the FDIC said that it would reduce the de novo period from seven years to three years, and updated its guidance on regulatory expectations for new banks. <br /><br />De novo banks have been scarce in the years since the financial crisis – since 2010, there have only been three new banks chartered in the U.S. ABA will continue to provide feedback to the FDIC on these and other initiatives to increase new bank applications. Comments on the handbook are due Feb. 20 and may be submitted to handbookcomments@fdic.gov.<br /><br /><a href="https://www.fdic.gov/regulations/applications/handbook.pdf" target="_blank">Read the handbook</a>.ABA Regulatory Policy Staff 2http://www.blogger.com/profile/11301563447196059381noreply@blogger.com8tag:blogger.com,1999:blog-8681988120361586093.post-82022970822278617622016-11-16T09:45:00.000-05:002016-11-16T09:45:00.152-05:00FDIC Approves Deposit Recordkeeping Final RuleThe FDIC board has approved a final rule requiring banks with more than 2 million deposit accounts to upgrade their deposit recordkeeping systems to facilitate the determination of FDIC insured deposits in the event of a bank failure. Under the rule, the FDIC will use the failing bank’s systems, data and staff to calculate the insured and uninsured amounts for each depositor and place holds on portions of uninsured deposits. To comply with the rule, these banks will be required to collect and maintain more detailed depositor information and make upgrades to their IT systems to ensure that they are able to calculate many types of insured deposits within 24 hours of failure. <br /><br />In response to feedback from ABA and other associations, the final rule includes alternative requirements for a number of accounts, including certain trusts, brokered deposits and lawyers’ trust accounts for which it would be difficult to compel accountholders to provide personal identification information about the ultimate owners of the funds. The FDIC also extended the timeline for banks to comply with the rule, also in response to banker concerns. Affected institutions – currently 38 of the country’s largest banks – will now have three years to comply with the final rule instead of two.<br /><br /><a href="https://www.fdic.gov/news/news/press/2016/pr16101a.pdf" target="_blank">Read the final rule</a>.ABA Regulatory Policy Staff 2http://www.blogger.com/profile/11301563447196059381noreply@blogger.com0tag:blogger.com,1999:blog-8681988120361586093.post-13523103441158196872016-06-24T11:31:00.000-04:002016-06-30T12:09:35.155-04:00The Week Ahead: June 27 - July 1<div><b>Monday</b></div><ul><li>Comments Due OCC: <b>Reduction of Permanent Capital Notice (PRA)</b> <a href="https://www.gpo.gov/fdsys/pkg/FR-2016-04-26/pdf/2016-09731.pdf" target="_blank"> Read more.</a></li></ul><ul><li>Comments Due FDIC/OCC/FRB: <b>Correction for Regulatory Capital Reporting for Institutions Subject to the Advanced Capital Adequacy Framework</b> <a href="https://www.gpo.gov/fdsys/pkg/FR-2016-04-27/pdf/2016-09871.pdf" target="_blank"> Read more.</a></li></ul><ul><li>Comments Due FDIC: <b>Recordkeeping for Timely Deposit Insurance Determination</b> <a href="https://www.gpo.gov/fdsys/pkg/FR-2016-05-26/pdf/2016-12325.pdf" target="_blank"> Read more.</a></li></ul><ul><li>Comments Due OCC: <b>Disclosure of Financial and Other Information by National Banks (PRA)</b> <a href="https://www.gpo.gov/fdsys/pkg/FR-2016-05-27/pdf/2016-12584.pdf" target="_blank"> Read more.</a></li></ul><ul><li>Comments Due OCC: <b>Funding and Liquidity Risk Management (PRA)</b> <a href="https://www.gpo.gov/fdsys/pkg/FR-2016-05-27/pdf/2016-12581.pdf" target="_blank"> Read more.</a></li></ul><ul><li>Comments Due OCC: <b>Interagency Guidance on Asset Securitization Activities (PRA)</b> <a href="https://www.gpo.gov/fdsys/pkg/FR-2016-04-27/pdf/2016-09730.pdf" target="_blank"> Read more.</a></li></ul><ul><li>Comments Due OCC: <b>Reduction of Permanent Capital Notice (PRA)</b> <a href="https://www.gpo.gov/fdsys/pkg/FR-2016-04-26/pdf/2016-09731.pdf" target="_blank"> Read more.</a></li></ul><ul><li>Meeting CFTC: <b>Market Risk Advisory Committee</b> <a href="https://www.gpo.gov/fdsys/pkg/FR-2016-06-09/pdf/2016-13622.pdf" target="_blank"> Read more.</a></li></ul><div><b>Friday</b></div><ul><li>Effective Date FRB: <b>Liquidity Coverage Ratio: Treatment of U.S. Municipal Securities as High-Quality Liquid Assets</b> <a href="https://www.gpo.gov/fdsys/pkg/FR-2016-04-11/pdf/2016-07716.pdf" target="_blank"> Read more.</a></li></ul><ul><li>Effective Date FDIC: <b>Assessments</b> <a href="https://www.gpo.gov/fdsys/pkg/FR-2016-05-20/pdf/2016-11181.pdf" target="_blank"> Read more.</a></li></ul><br />All times in Eastern Standard Time. See future events on the <a href="http://regreformtracker.aba.com/p/dodd-frank-calendar.html" target="_blank">Dodd-Frank Calendar</a>.<br /><br /><div class="separator" style="clear: both; text-align: center;"></div><a href="http://goo.gl/wBIX9a" style="margin-left: 1em; margin-right: 1em;" target="_blank"><img border="0" src="http://www.aba.com/Tools/Economic/PublishingImages/DoddFrank-email-321x70.jpg" /></a><br /><br />ABA Regulatory Policy Staff 2http://www.blogger.com/profile/11301563447196059381noreply@blogger.com0tag:blogger.com,1999:blog-8681988120361586093.post-48045886986482864512016-05-20T11:49:00.002-04:002016-05-27T11:22:40.652-04:00The Week Ahead: May 23 - 27<div><b>Monday</b></div><ul><li>Comments Due CFPB: <b>Emergency Processing Request (PRA)</b> <a href="https://www.gpo.gov/fdsys/pkg/FR-2016-03-23/pdf/2016-06469.pdf" target="_blank"> Read more.</a></li></ul><ul><li>Comments Due FDIC: <b>Qualifications for Failed Bank Acquisitions (PRA)</b> <a href="https://www.gpo.gov/fdsys/pkg/FR-2016-03-24/pdf/2016-06648.pdf" target="_blank"> Read more.</a></li></ul><div><b>Tuesday</b></div><ul><li>Comments Due OCC: <b>Minimum Security Devices and Procedures, Reports of Suspicious Activities, and Bank Secrecy Act Compliance Program (PRA)</b> <a href="https://www.gpo.gov/fdsys/pkg/FR-2016-03-25/pdf/2016-06758.pdf" target="_blank"> Read more.</a></li></ul><ul><li>House Hearing: <b>Stopping Terror Finance: A Coordinated Government Effort</b> <a href="http://financialservices.house.gov/calendar/eventsingle.aspx?EventID=400670" target="_blank"> Read more.</a></li></ul><ul><li>Senate Hearing: <b>Understanding the Role of Sanctions Under the Iran Deal</b> <a href="http://www.banking.senate.gov/public/index.cfm/2016/5/understanding-the-role-of-sanctions-under-the-iran-deal" target="_blank"> Read more.</a></li></ul><div><b>Wednesday</b></div><ul><li>Meeting FDIC: <b>FDIC Advisory Committee on Economic Inclusion (ComE-IN)</b> <a href="https://www.gpo.gov/fdsys/pkg/FR-2016-05-10/pdf/2016-10947.pdf" target="_blank"> Read more.</a></li></ul><ul><li>Senate Hearing: <b>Understanding the Role of Sanctions Under the Iran Deal: Administration Perspectives</b> <a href="http://www.banking.senate.gov/public/index.cfm/2016/5/understanding-the-role-of-sanctions-under-the-iran-deal-administration-perspective" target="_blank"> Read more.</a></li></ul><div><b>Thursday</b></div><ul><li>Comments Due CFPB: <b>Amendments to the 2013 Mortgage Servicing Rules Under the Real Estate Settlement Procedures Act (Regulation X) and the Truth in Lending Act (Regulation Z)</b> <a href="https://www.gpo.gov/fdsys/pkg/FR-2016-04-26/pdf/2016-09695.pdf" target="_blank"> Read more.</a></li></ul><ul><li>Comments Due FDIC: <b>Recordkeeping for Timely Deposit Insurance Determination</b> <a href="https://www.gpo.gov/fdsys/pkg/FR-2016-02-26/pdf/2016-03658.pdf" target="_blank"> Read more.</a></li></ul><div><b>Friday</b></div><ul><li>Comments Due CFPB:: <b>Generic Information Collection Plan for the Office of Intergovernmental Affairs Outreach Activities (PRA)</b> <a href="https://www.gpo.gov/fdsys/pkg/FR-2016-03-28/pdf/2016-06959.pdf" target="_blank"> Read more.</a></li></ul><ul><li>Comments Due OCC: <b>Leveraged Lending (PRA)</b> <a href="https://www.gpo.gov/fdsys/pkg/FR-2016-04-27/pdf/2016-09878.pdf" target="_blank"> Read more.</a></li></ul><br /><br />All times in Eastern Standard Time. See future events on the <a href="http://regreformtracker.aba.com/p/dodd-frank-calendar.html" target="_blank">Dodd-Frank Calendar</a>. <br /><br /><div class="separator" style="clear: both; text-align: center;"></div><a href="http://goo.gl/wBIX9a" style="margin-left: 1em; margin-right: 1em;" target="_blank"><img border="0" src="http://www.aba.com/Tools/Economic/PublishingImages/DoddFrank-email-321x70.jpg" /></a>ABA Regulatory Policy Staff 2http://www.blogger.com/profile/11301563447196059381noreply@blogger.com1tag:blogger.com,1999:blog-8681988120361586093.post-67097873962046924472016-04-26T12:46:00.002-04:002016-04-26T12:46:56.042-04:00FDIC Adopts Small Bank Assessments Final Rule The FDIC has approved a final rule that amends the way banks with less than $10 billion in assets – that have been FDIC insured for at least five years – are assessed for deposit insurance. It updates the data and revises the methodology that the FDIC uses to determine risk-based assessments for these institutions in three key ways: by basing the financial ratios method on a statistical model estimating the probability of failure over three years; by updating the financial measures used in the financial ratios method consistent with the statistical model; and by eliminating risk categories for established small banks and using the financial ratios method to determine assessment rates for all such banks.<br /><br />FDIC Chairman Martin J. Gruenberg said<br /><blockquote>This rule will allow future assessments to better differentiate riskier banks from safer banks. Using the FDIC's experience during the recent financial crisis, this rule will better allocate the costs of maintaining a strong Deposit Insurance Fund. Taken together with the overall decline in rates approved by the Board in 2011 that will occur once the reserve ratio reaches 1.15%, more than 93% of small banks will pay lower assessment rates.</blockquote> <br />The final rule is revenue neutral, so that aggregate assessment revenue collected from established small banks is expected to be approximately the same as it would have been otherwise. The FDIC has revised the online assessment calculator to reflect this change.<br /> <br />The final rule will be used to determine assessment rates for small banks beginning the quarter after the Deposit Insurance Fund reserve ratio reaches 1.15%, but no earlier than the third quarter of this year.<br /><br /><a href="https://www.fdic.gov/news/board/2016/2016-04-26_notice_dis_b_fr.pdf?source=govdelivery&utm_medium=email&utm_source=govdelivery" target="_blank">Read the final rule</a>ABA Regulatory Policy Staff 2http://www.blogger.com/profile/11301563447196059381noreply@blogger.com0tag:blogger.com,1999:blog-8681988120361586093.post-24471207138947461222016-03-16T11:30:00.000-04:002016-03-16T11:30:25.542-04:00FDIC Issues Final Rule on Recapitalization of its Insurance FundAs required by the Dodd-Frank Act, the FDIC finalized a rule to increase the deposit insurance fund from 1.15% of insured deposits to 1.35% by 2020. <br /><br />Under a rule adopted in 2011, assessment rates for all banks will decline by 2 or more basis points the quarter after the fund reaches 1.15%, which is anticipated for the second quarter of 2016 (possibly the third quarter if insured deposit growth exceeds expectations). Under the finalized rule, starting that same quarter, banks under $10 billion will accrue credits for the portion of their assessments that contribute to growth of the fund above 1.15%. Banks will be allowed to use their credits without limit to cover assessments once the fund reaches 1.38% – a provision incorporated into the final rule following comments by ABA. <br /><br />At the same time, the rule requires banks with over $10 billion in assets to pay 4.5 basis-point annual surcharge assessments until the fund reaches the 1.35% target, or until the fourth quarter of 2018. If needed, there will be a one-time “shortfall assessment” in the first quarter of 2019 to bring the fund to 1.35%. <br /> <br /><a href="http://abamaestro.aba.com/trk/click?ref=zt50ebrbb_0-11cigiv-0-3360x36d9dx3121514&" target="_blank">View the final rule.</a> <br /><a href="http://abamaestro.aba.com/trk/click?ref=zt50ebrbb_0-11cigiv-0-3360x36d9ex3121514&" target="_blank">Read ABA’s summary of the rule.</a>ABA Regulatory Policy Staff 2http://www.blogger.com/profile/11301563447196059381noreply@blogger.com15tag:blogger.com,1999:blog-8681988120361586093.post-40733027579543503742016-03-09T12:00:00.000-05:002016-03-09T12:00:20.962-05:00ABA Comments on FDIC Proposal for Small Bank Assessments ABA offered feedback on the FDIC’s revised proposal for assessing deposit insurance premiums on banks with under $10 billion in assets. The association generally supported the revised proposal – which incorporated several of ABA’s comments on the initial proposal issued last June – however, the comment letter highlighted three lingering areas of concern with the revised assessment formula: the proposed “loan mix index,” the weighting for the tier 1 leverage ratio, and the proposed asset growth factor. <br /><br />ABA recommended that the revised formula should measure loan asset quality management based on the performance of a bank’s own loan portfolio in the past, rather than using an index of the types of loans in its portfolio. The letter also urged FDIC to: not penalize well-capitalized banks with CAMELS ratings of I or II simply because they do not hold excessive amounts of tier 1 capital; recognize that asset growth – even in excess of a 10% four-quarter threshold – is normal and healthy and does not warrant higher assessments; and use CAMELS component ratings to gauge asset quality and management. <br /><br />Members of ABA’s Government Relations Council Administrative Committee communicated the need for these changes in person during a meeting with FDIC officials. <br /><br />The FDIC is expected to issue its final rule this summer, and the revised system will take effect the quarter after the FDIC insurance fund reaches 1.15% of insured deposits, which is expected in the second or third quarter of 2016. However, ABA recommended a delay in implementation if time is needed for the suggested revisions to be incorporated into the final version of the formula. <br /><br /><a href="http://www.aba.com/Advocacy/commentletters/Documents/FDICSBA160307.pdf" target="_blank">Read the letter.</a>ABA Regulatory Policy Staff 2http://www.blogger.com/profile/11301563447196059381noreply@blogger.com0tag:blogger.com,1999:blog-8681988120361586093.post-75369749131905972072016-02-17T11:57:00.004-05:002016-02-17T11:57:52.295-05:00FDIC Approves Proposal on Deposit Account Recordkeeping RequirementsThe FDIC approved a proposal for recordkeeping requirements for FDIC-insured institutions with a large number of deposit accounts to facilitate rapid payment of insured deposits to customers if the institutions were to fail.<br /><br />The proposed rule would apply to insured depository institutions with more than 2 million deposit accounts. Under the proposal, these institutions would generally be required to maintain complete and accurate data on each depositor. Further, the institutions would be required to ensure that their information technology systems are capable of calculating the amount of insured money for each depositor within 24 hours of a failure.<br /><br />FDIC Chairman Martin J. Gruenberg said:<br /><blockquote>Timely access to insured deposits is critical to maintaining public confidence in the banking system. This proposal would bolster the FDIC's ability to provide depositors at banks with a large number of deposit accounts the same rapid access to their insured funds in the case of a failure as the FDIC does in smaller resolutions.</blockquote><br />The FDIC is not proposing or considering making these requirements applicable to smaller institutions, including community banks.<br /><br /><a href="https://www.fdic.gov/news/news/press/2016/pr16010.html" target="_blank">Read more.</a>ABA Regulatory Policy Staff 2http://www.blogger.com/profile/11301563447196059381noreply@blogger.com0tag:blogger.com,1999:blog-8681988120361586093.post-31983907775141340332016-01-22T11:08:00.001-05:002016-01-22T11:08:36.099-05:00The Week Ahead: January 25 - 29<div><b>Monday</b></div><ul><li>Comments Due CFPB: <b>Financial Well-Being National Survey (PRA)</b> <a href="http://www.gpo.gov/fdsys/pkg/FR-2015-11-24/pdf/2015-29816.pdf" target="_blank"> Read more.</a></li></ul><ul><li>Comments Due CFPB: <b>Homeownership Counseling Amendments to the Real Estate Settlement Procedures Act (Regulation X) (PRA)</b> <a href="http://www.gpo.gov/fdsys/pkg/FR-2015-11-24/pdf/2015-29815.pdf" target="_blank"> Read more.</a></li></ul><ul><li>Comments Due CFPB: <b>Report of Terms of Credit Card Plans (PRA)</b> <a href="http://www.gpo.gov/fdsys/pkg/FR-2015-11-24/pdf/2015-29818.pdf" target="_blank"> Read more.</a></li></ul><ul><li>Comments Due FDIC: <b>Treatment of Financial Assets Transferred in Connection With a Securitization or Participation</b> <a href="http://www.gpo.gov/fdsys/pkg/FR-2015-11-25/pdf/2015-29821.pdf" target="_blank"> Read more.</a></li></ul><ul><li>Final Rule FDIC: <b>Treatment of Financial Assets Transferred in Connection With a Securitization or Participation</b> <a href="http://www.gpo.gov/fdsys/pkg/FR-2015-11-24/pdf/2015-29822.pdf" target="_blank"> Read more.</a></li></ul><div><b>Tuesday</b></div><ul><li>Meeting CFTC: <b>Technology Advisory Committee</b> <a href="http://www.cftc.gov/PressRoom/Events/opaevent_tac022616" target="_blank"> Read more.</a></li></ul><ul><li>House Hearing: <b>Trading with the Enemy: Trade-Based Money Laundering is the Growth Industry in Terror Finance</b> <a href="http://financialservices.house.gov/calendar/eventsingle.aspx?EventID=400192" target="_blank"> Read more.</a></li></ul><ul><li>House Hearing: <b>Markup of FY17 Budget Views and Estimates</b> <a href="http://financialservices.house.gov/calendar/eventsingle.aspx?EventID=400204" target="_blank"> Read more.</a></li></ul><br />All times in Eastern Standard Time. See future events on the <a href="http://regreformtracker.aba.com/p/dodd-frank-calendar.html" target="_blank">Dodd-Frank Calendar</a>. <br /><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><a href="http://www.aba.com/Advocacy/Grassroots/Pages/Text-Alerts.aspx" style="margin-left: 1em; margin-right: 1em;" target="_blank"><img border="0" src="http://www.aba.com/Tools/Economic/PublishingImages/GrassrootsTextMessageBlog400x100.jpg" /></a>ABA Regulatory Policy Staff 2http://www.blogger.com/profile/11301563447196059381noreply@blogger.com0tag:blogger.com,1999:blog-8681988120361586093.post-45045723883210695992016-01-22T09:43:00.000-05:002016-01-22T09:43:05.710-05:00FDIC Revises Proposal on Assessments for Banks Under $10B The FDIC issued a revised proposed rule for assessing deposit insurance premiums on banks with under $10 billion in assets. The proposal incorporates several of ABA’s recommendations on the earlier proposal issued last July, including the elimination of an assessment penalty for funding with reciprocal deposits or Federal Home Loan Bank advances. ABA Senior Economist Rob Strand said:<br /><br /><blockquote>We appreciate that the FDIC considered all of our issues with the earlier proposal and incorporated several of our suggestions. We are evaluating the latest version to see if it now fairly allocates assessments by risk.</blockquote><br />In response to numerous comments from bankers across the country, the revised proposal would not factor core deposit funding into assessments (which would punish banks for funding with reciprocal deposits or Federal Home Loan Bank advances). Under the updated proposal, funding with brokered deposits — not counting reciprocal deposits for well capitalized banks with CAMELS ratings of 1 or 2 — in excess of 10% of assets would lead to higher assessments (and the existing “brokered deposit adjustment” would be eliminated).<br /><br />As supported by ABA, the revised proposal would also adopt a fairer standard for assessing growth; assets would have to grow more than 10% over a one-year period to trigger higher assessments, meaning that fewer banks will be penalized for healthy, well-managed growth. <br /><br />The new proposal would not alter the loan portfolio factor from the earlier proposal, which ABA criticized as being “of questionable value” in forecasting bank failures, since it does not account for the quality of credit underwriting, portfolio management and risk hedging. However, the proposal would cap assessment rates by CAMELS rating, which ABA supported, potentially limiting the impact of the loan portfolio factor and the weighting for the tier 1 core capital ratio, which ABA also objected to earlier.<br /><br />The FDIC will accept comments on the proposal for 30 days following publication in the Federal Register, and posted a calculator for bankers to test the impact on their assessments. <br /><br /><a href="https://www.fdic.gov/news/news/press/2016/pr16004.html"target="_blank">Read more.</a> <br /><a href="https://www.fdic.gov/deposit/insurance/calculator.html"target="_blank">Access the calculator. </a>ABA Regulatory Policy Staff 2http://www.blogger.com/profile/11301563447196059381noreply@blogger.com0tag:blogger.com,1999:blog-8681988120361586093.post-19781676055641192732016-01-19T13:22:00.002-05:002016-01-19T13:22:37.331-05:00FDIC to Host Deposit Insurance Coverage SeminarsThe FDIC will host six identical live seminars on FDIC deposit insurance coverage for bank employees and bank officers between February 23 and December 5, 2016. In addition, the FDIC has developed three separate Deposit Insurance Coverage Seminars for bank officers and employees, which are available on the FDIC’s YouTube channel. The seminars will provide bank employees with an understanding of how to calculate deposit insurance coverage.<br /><br />The live seminars provide a comprehensive overview of FDIC deposit insurance while the YouTube seminars cover: Fundamentals of Deposit Insurance Coverage; Deposit Insurance Coverage for Revocable Trust Accounts; and Advanced Topics in Deposit Insurance Coverage.<br /><br /><a href="https://www.fdic.gov/news/news/financial/2016/fil16006.html?source=govdelivery&utm_medium=email&utm_source=govdelivery" target="_blank">Read more.</a>ABA Regulatory Policy Staff 2http://www.blogger.com/profile/11301563447196059381noreply@blogger.com0tag:blogger.com,1999:blog-8681988120361586093.post-17873191771983218192015-12-11T10:52:00.000-05:002015-12-18T10:48:14.169-05:00The Week Ahead: December 14 - 18<div><b>Wednesday</b></div><ul><li>House Hearing: <b>Examining the Consumer Financial Protection Bureau’s Mass Data Collection Program</b> <a href="http://financialservices.house.gov/calendar/eventsingle.aspx?EventID=400081" target="_blank"> Read more.</a></li></ul><div><b>Thursday</b></div><ul><li>Effective Date FRB: <b>Reserve Requirements of Depository Institutions</b> <a href="http://www.gpo.gov/fdsys/pkg/FR-2015-11-17/pdf/2015-29336.pdf" target="_blank"> Read more.</a></li></ul><div><b>Friday</b></div><ul><li>Comments Due FDIC: <b>Foreign Branch Report of Condition (PRA)</b> <a href="http://www.gpo.gov/fdsys/pkg/FR-2015-11-18/pdf/2015-29410.pdf" target="_blank"> Read more.</a></li></ul><br />All times in Eastern Standard Time. See future events on the <a href="http://regreformtracker.aba.com/p/dodd-frank-calendar.html" target="_blank">Dodd-Frank Calendar</a>. <br /><br /><div class="separator" style="clear: both; text-align: center;"><a href="http://www.aba.com/Advocacy/Grassroots/Pages/Text-Alerts.aspx" style="margin-left: 1em; margin-right: 1em;" target="_blank"><img border="0" src="http://www.aba.com/Tools/Economic/PublishingImages/GrassrootsTextMessageBlog400x100.jpg" /></a></div>ABA Regulatory Policy Staff 2http://www.blogger.com/profile/11301563447196059381noreply@blogger.com0tag:blogger.com,1999:blog-8681988120361586093.post-9599391978853809182015-12-04T11:30:00.000-05:002015-12-11T10:48:29.992-05:00The Week Ahead: December 7 - 11<div><b>Monday</b></div><ul><li>Comments Due FDIC: <b>Annual Stress Test Reporting Template and Documentation for Covered Banks With Total Consolidated Assets of $10 Billion to $50 Billion Under Dodd-Frank (PRA)</b> <a href="http://www.gpo.gov/fdsys/pkg/FR-2015-10-07/pdf/2015-25408.pdf" target="_blank"> Read more.</a></li></ul><ul><li>Comments Due FDIC: <b>FDIC Small Business Lending Survey (PRA)</b> <a href="http://www.gpo.gov/fdsys/pkg/FR-2015-10-07/pdf/2015-25507.pdf" target="_blank"> Read more.</a></li></ul><ul><li>Comments Due OCC/FDIC/CFPB/SEC: <b>Joint Standards for Assessing the Diversity Policies and Practices of Entities Regulated by the Agencies</b> <a href="http://www.gpo.gov/fdsys/pkg/FR-2015-09-22/pdf/2015-24021.pdf" target="_blank"> Read more.</a></li></ul><div><b>Tuesday</b></div><ul><li>House Hearing: <b>Oversight of the Financial Stability Oversight Council</b> <a href="http://financialservices.house.gov/calendar/eventsingle.aspx?EventID=399998" target="_blank"> Read more.</a></li></ul><br />All times in Eastern Standard Time. See future events on the <a href="http://regreformtracker.aba.com/p/dodd-frank-calendar.html" target="_blank">Dodd-Frank Calendar</a>. <br /><br /><div class="separator" style="clear: both; text-align: center;"><a href="http://www.aba.com/Advocacy/Grassroots/Pages/Text-Alerts.aspx" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="http://www.aba.com/Tools/Economic/PublishingImages/GrassrootsTextMessageBlog400x100.jpg" /></a></div>ABA Regulatory Policy Staff 2http://www.blogger.com/profile/11301563447196059381noreply@blogger.com0tag:blogger.com,1999:blog-8681988120361586093.post-53453502413323535462015-11-16T09:30:00.000-05:002015-11-16T09:30:01.680-05:00FDIC Updates FAQ on Brokered DepositsThe FDIC updated its controversial FAQs on identifying, accepting, and reporting brokered deposits and sought comment on the revisions.<br /><br />The document was originally issued in January and caused widespread confusion and frustration at banks as it seemed to broaden the scope of deposits deemed “brokered.” In response to ABA’s concerns, FDIC staff encouraged banks to reach out to their examiners with specific questions about the guidance’s impact on depository operations, and it promised to update the FAQs as needed.<br /><br />The changes proposed, which are detailed in a “track changes” version of the document, include both clarifications and new questions on topics like prepaid cards, referrals from insurance agents, lawyers and accountants, government benefits disbursed through cards and restrictions on banks that cease to be well capitalized for prompt corrective action purposes.<br /><br />The FDIC stressed that the document is “a plain language summary of previously issued guidance that is conveniently located in one place,” and it added footnotes throughout the document to site previously issued opinions. Comments on the FAQs and introductory letter are due Dec. 28.<br /><br /><a href="http://bankingjournal.aba.com/2015/11/fdic-updates-faq-on-brokered-deposits/" target="_blank">Read more.</a>ABA Regulatory Policy Staff 2http://www.blogger.com/profile/11301563447196059381noreply@blogger.com0tag:blogger.com,1999:blog-8681988120361586093.post-15481181336707841802015-11-13T10:51:00.001-05:002015-11-13T10:52:26.232-05:00The Week Ahead: November 16 - 20<div><b>Tuesday</b></div><ul><li>Comments Due FDIC/OCC/FRS: <b>Consolidated Reports of Condition and Income (PRA)</b> <a href="http://www.gpo.gov/fdsys/pkg/FR-2015-09-18/pdf/2015-23402.pdf" target="_blank"> Read more.</a></li></ul><ul><li>House Hearing: <b>Dodd-Frank Five Years Later: What Have We Learned from Conflict Minerals Reporting?</b> <a href="http://financialservices.house.gov/calendar/eventsingle.aspx?EventID=399886" target="_blank"> Read more.</a></li></ul><ul><li>FDIC Seminar: <b>Deposit Insurance Coverage Seminars Free Nationwide Seminars for Bank Officers and Employees</b> <a href="https://www.fdic.gov/news/news/financial/2013/fil13006.html#cont" target="_blank"> Read more.</a></li></ul><div><b>Wednesday</b></div><ul><li>Meeting OCC: <b>Mutual Savings Association Advisory Committee</b> <a href="http://www.gpo.gov/fdsys/pkg/FR-2015-11-03/pdf/2015-27989.pdf" target="_blank"> Read more.</a></li></ul><ul><li>House Hearing: <b>Examining the SEC’s Agenda, Operations, and FY 2017 Budget Request</b> <a href="http://financialservices.house.gov/calendar/eventsingle.aspx?EventID=399885" target="_blank"> Read more.</a></li></ul><br /><br />All times in Eastern Standard Time. See future events on the <a href="http://regreformtracker.aba.com/p/dodd-frank-calendar.html" target="_blank">Dodd-Frank Calendar</a>. <br /><br /><div class="separator" style="clear: both; text-align: center;"><a href="http://www.aba.com/Training/DC/Pages/dccertificate.aspx" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="http://www.aba.com/Tools/Economic/PublishingImages/OTCP-15Blog_400x100.jpg" /></a></div>ABA Regulatory Policy Staff 2http://www.blogger.com/profile/11301563447196059381noreply@blogger.com0tag:blogger.com,1999:blog-8681988120361586093.post-91132388331719589242015-10-30T11:33:00.000-04:002015-10-30T11:33:00.323-04:00The Week Ahead: November 2 - 6<div><b>Monday</b></div><ul><li>Meeting CFTC: <b>Market Risk Advisory Committee</b> <a href="http://www.gpo.gov/fdsys/pkg/FR-2015-10-05/pdf/2015-25191.pdf" target="_blank"> Read more.</a></li></ul><div><b>Tuesday</b></div><ul><li>Comments Due CFPB: <b>Web-Based Quantitative Testing of Point of Sale/ATM (POS/ATM) Overdraft Disclosure Forms (PRA)</b> <a href="http://www.gpo.gov/fdsys/pkg/FR-2015-09-04/pdf/2015-22003.pdf" target="_blank"> Read more.</a></li></ul><ul><li>Comments Due CFTC: <b>Aggregation of Positions</b> <a href="http://www.gpo.gov/fdsys/pkg/FR-2015-09-29/pdf/2015-24596.pdf" target="_blank"> Read more.</a></li></ul><div><b>Wednesday</b></div><ul><li>House Hearing: <b>Semi-Annual Testimony on the Federal Reserve’s Supervision and Regulation of the Financial System</b> <a href="http://financialservices.house.gov/calendar/eventsingle.aspx?EventID=399838" target="_blank"> Read more.</a></li></ul><ul><li>Meeting FFIEC: <b>Appraisal Subcommittee</b> <a href="http://www.gpo.gov/fdsys/pkg/FR-2015-10-27/pdf/2015-27283.pdf" target="_blank"> Read more.</a></li></ul><div><b>Thursday</b></div><ul><li>Meeting: <b>FDIC Advisory Committee on Community Banking</b> <a href="http://www.gpo.gov/fdsys/pkg/FR-2015-10-21/pdf/2015-26689.pdf" target="_blank"> Read more.</a></li></ul><br /><br />All times in Eastern Standard Time. See future events on the <a href="http://regreformtracker.aba.com/p/dodd-frank-calendar.html" target="_blank">Dodd-Frank Calendar</a>. <br /><br /><div class="separator" style="clear: both; text-align: center;"><a href="http://www.aba.com/Engagement/Pages/CommunityCommitmentAwards.aspx" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="http://www.aba.com/Tools/Economic/PublishingImages/CCA15_BlogAd_400x100.jpg" /></a></div>ABA Regulatory Policy Staff 2http://www.blogger.com/profile/11301563447196059381noreply@blogger.com0tag:blogger.com,1999:blog-8681988120361586093.post-3422539570375996812015-10-28T10:08:00.000-04:002015-10-28T10:08:00.859-04:00FDIC Consolidates Change in Bank Control RequirementsThe FDIC is finalizing a rule to consolidate its notice requirements when non-Fed-member state banks and state thrifts experience a change in control in a single subpart of the agency’s regulations. The rule also aligns the FDIC’s requirements with “best practices” from the OCC and the Federal Reserve.<br /><br />The final rule transfers a rebuttable presumption of control from the Change in Bank Control Act while adding a rebuttable presumption of acting in concert, consistent with Federal Reserve regulations. <br /><br /><a href="https://www.federalregister.gov/articles/2015/10/28/2015-27289/filing-requirements-and-processing-procedures-for-changes-in-control-with-respect-to-state-nonmember" target="_blank">Read the final rule.</a><br /><br />The FDIC is also rescinding certain rules that had been transferred to the agency after the closure of the Office of Thrift Supervision. The rules, which have been consolidated with FDIC guidance, cover fair credit reporting and safety and soundness. The FDIC also rescinded regulations implementing the now-expired, financial crisis-era Temporary Liquidity Guarantee Program. <br /><br /><a href="https://www.federalregister.gov/articles/2015/10/28/2015-27289/filing-requirements-and-processing-procedures-for-changes-in-control-with-respect-to-state-nonmember" target="_blank">View the rescinded rules.</a>ABA Regulatory Policy Staff 2http://www.blogger.com/profile/11301563447196059381noreply@blogger.com0tag:blogger.com,1999:blog-8681988120361586093.post-49378239981987816102015-10-27T09:13:00.003-04:002015-10-27T09:13:51.885-04:00FDIC Rescinds Rule Transferred from OTSThe FDIC rescinded a regulation on “Electronic Operations.” The rule had been transferred to the FDIC after the closure of the Office of Thrift Supervision, but was deemed “obsolete and unnecessary and burdensome.” The rescission takes effect on Nov. 26. <br /><br /><a href="https://www.federalregister.gov/articles/2015/10/27/2015-27292/removal-of-transferred-ots-regulations-regarding-electronic-operations"target="_blank">Read more.</a>ABA Regulatory Policy Staff 2http://www.blogger.com/profile/11301563447196059381noreply@blogger.com0tag:blogger.com,1999:blog-8681988120361586093.post-57893991193477187912015-10-23T12:00:00.000-04:002015-10-29T11:00:03.619-04:00The Week Ahead: October 26 - 30<div><b>Monday</b></div><ul><li>Workshop OCC: <b>Bank Director Workshop</b> <a href="http://www.seiservices.com/occ2015/" target="_blank"> Read more.</a></li></ul><ul><li>Final Rule SEC: <b>Removal of Certain References to Credit Ratings and Amendment to the Issuer Diversification Requirement in the Money Market Fund Rule</b> <a href="http://www.gpo.gov/fdsys/pkg/FR-2015-09-25/pdf/2015-24015.pdf" target="_blank"> Read more.</a></li></ul><div><b>Tuesday</b></div><ul><li>Meeting SEC: <b>Public Sunshine Act Meeting</b> <a href="http://www.gpo.gov/fdsys/pkg/FR-2015-10-22/pdf/2015-27066.pdf" target="_blank"> Read more.</a></li></ul><div><b>Wednesday</b></div><ul><li>Senate Hearing: <b>The State of Rural Banking: Challenges and Consequences</b> <a href="http://www.banking.senate.gov/public/index.cfm?FuseAction=Hearings.Hearing&Hearing_ID=f5503322-680a-451c-ae4f-2eee1bc4e086" target="_blank"> Read more.</a></li></ul><b>Thursday</b><br /><ul><li>Comments Due SEC: <b>Access to Data Obtained by Security-Based Swap Data Repositories and Exemption From Indemnification Requirement</b> <a href="http://www.gpo.gov/fdsys/pkg/FR-2015-09-14/pdf/2015-22844.pdf" target="_blank"> Read more.</a></li></ul><b>Friday</b><br /><ul><li>Comments Due CFTC: <b>Amendments to Swap Data Recordkeeping and Reporting Requirements for Cleared Swaps</b> <a href="http://www.gpo.gov/fdsys/pkg/FR-2015-08-31/pdf/2015-21030.pdf" target="_blank"> Read more.</a></li></ul><ul><li>Meeting: <b>FDIC Advisory Committee on Economic Inclusion (ComE-IN)</b> <a href="http://www.gpo.gov/fdsys/pkg/FR-2015-10-15/pdf/2015-26224.pdf" target="_blank"> Read more.</a></li></ul><br />All times in Eastern Standard Time. See future events on the <a href="http://regreformtracker.aba.com/p/dodd-frank-calendar.html" target="_blank">Dodd-Frank Calendar</a>. <br /><br /><div class="separator" style="clear: both; text-align: center;"><a href="http://www.aba.com/Engagement/Pages/CommunityCommitmentAwards.aspx" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="http://www.aba.com/Tools/Economic/PublishingImages/CCA15_BlogAd_400x100.jpg" /></a></div>ABA Regulatory Policy Staff 2http://www.blogger.com/profile/11301563447196059381noreply@blogger.com0