Financial services regulatory reform continues to evolve in 2019. As we observe the changing landscape, here is the Summer Spotlight Edition of our reference tool, which provides context and summarizes current developments across a range of key regulatory areas, agencies and actors. We will continue to track these issues and
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FDIC
U.S. Banking Agencies Propose Custody Bank Relief under the Supplementary Leverage Ratio
The U.S. banking agencies have proposed allowing custodial banking organizations to exclude certain central bank deposits from the calculation of total leverage exposure, the denominator of the U.S. Basel III supplementary leverage ratio (SLR). The proposal implements Section 402 of the Economic Growth, Regulatory Relief and Consumer Protection…
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FDIC Considers Amendments to Resolution Planning Requirements
By The Davis Polk FIG Team on
Yesterday, the FDIC issued and invited comments on a proposal to amend and restate their 165(d) Rule, issued jointly with the Federal Reserve, which implements the resolution planning requirements of Section 165(d) of the Dodd-Frank Wall Street Reform and Consumer Protection Act. This proposal is identical to the version…
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Federal Reserve Proposes Amendments to 165(d) Resolution Plan Rule
By The Davis Polk FIG Team on
Today, the Federal Reserve issued and invited comments on a proposal to amend and restate their 165(d) Rule, which implements the resolution planning requirements of Section 165(d) of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
The Notice of Proposed Rulemaking for this new 165(d) Proposal is available…
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Bank Pay Rules May Be Resurrected
U.S. federal banking regulators plan to revive efforts to regulate financial institution incentive compensation, as required under Section 956 of the Dodd–Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act). The Wall Street Journal reports that the current effort is in its “early stages” and is being…
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Status of Financial Regulatory Leadership Changes
As the new Congress gets underway, we have updated our brief deck summarizing the leadership and staffing changes among federal financial regulators, including announced nominations, confirmations, resignations and expiring terms. The first slide summarizes the state of play for the agencies’ principals; the later slides provide a deeper look on…
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Davis Polk Financial Services Regulatory Reform Tool—New Congress Edition
Financial services regulatory reform continues to evolve in 2019. As we observe the changing landscape, here is the New Congress Edition of our reference tool, which provides context and summarizes current developments across a range of key regulatory areas, agencies and actors. We will continue to track these issues and…
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Board Interlocks and Investment in the Banking Sector—The Federal Banking Regulators Propose to Raise the Asset Thresholds
Posted in Bank Regulation, FDIC, Federal Reserve, Fintech, Management Interlocks, OCC, Proposed Rule
The Federal Reserve, FDIC and OCC (the Banking Agencies) recently published a proposal to increase the thresholds associated with the “major assets” prohibition governing management official interlocks contained in the Depository Institutions Management Interlocks Act (DIMIA)[1] and implemented by Regulation L. DIMIA permits the Banking Agencies to raise the…
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Federal Banking Regulators Propose EGRRCPA-Conforming Amendments to Stress Testing Rules
The Federal Reserve, FDIC and OCC (the Agencies) have each released proposed amendments to their respective stress testing rules for national banks, savings associations, state member banks and state non-member banks (collectively, IDIs) that would implement Section 401 of the Economic Growth, Regulatory Relief and Consumer Protection Act of 2018…
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Feedback on Foreign Banks’ July 2018 Resolution Plan Submissions – Key Takeaways
The Federal Reserve and FDIC (the Agencies) provided feedback on the U.S. resolution plans filed in July 2018 by four Foreign Banking Organizations – finding shortcomings in each, but acknowledging the need for more coordination among U.S. and home country regulators. Unredacted copies of the letters sent on December…
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