The Senate’s bipartisan regulatory relief bill advanced out of the Senate Banking Committee this week with only minor changes and remains on a path to a filibuster-proof majority.  The bill would provide regulatory relief to regional, community and custody banks, among others—as described in two earlier posts here and here
Continue Reading Bipartisan Senate Bill Advances from Committee Largely Unchanged

Does the bipartisan Senate bill described in our earlier post leave large banks, i.e., banking organizations with $250 billion or more in total consolidated assets, and foreign banking organizations (FBOs) entirely out in the cold?  No, but the relief it provides to large banking organizations is quite limited, and it
Continue Reading Left Out in the Cold? The Bipartisan Senate Bill and G-SIBs, Other Large Banks and Foreign Banks

The bipartisan Senate bill would open the door to welcome relief for regional and community bank holding companies (BHCs) by raising the statutory threshold for enhanced prudential standards from $50 billion to $250 billion in total consolidated assets.  The bill, titled the Economic Growth, Regulatory Relief and Consumer Protection Act
Continue Reading Bipartisan Senate Bill Would Provide Welcome Relief to Regional and Community Banks

The long conversation about raising the Dodd-Frank $50 billion asset threshold for enhanced prudential standards took a step forward today.  Treasury Secretary Mnuchin, responding to a question from Rep. Hensarling in a House Financial Services Committee hearing, said that the threshold should be increased “substantially,” to at least $250 billion
Continue Reading Higher Threshold for Enhanced Prudential Standards Comes into Focus

The recent Treasury Report on financial regulatory reforms related to banks and credit unions devotes significant attention to issues of capital, stress testing and liquidity, which highlights the central role of these issues in the ongoing reform efforts.  The Treasury Report is, however, only a starting point; it makes recommendations
Continue Reading Davis Polk Visual Memo on Treasury Report’s Capital, Stress Testing and Liquidity Recommendations, and Initial Agency Responses

There has been a slow start to financial regulatory reform under the Trump Administration, but the conversation is now changing in ways that are serious and thoughtful. This note highlights the key themes that we believe are important for mid-sized and regional banks in light of recent personnel announcements,
Continue Reading Regulatory Reform for Mid-Sized and Regional Banks: Where Are We at Mid-Year?

This evening, Treasury Secretary Mnuchin published the long-awaited report on proposals to existing banking regulations (press release here), which is the first of what will be several reports, in accordance with President Trump’s February 3 Executive Order on Core Principles for Regulating the U.S. Financial System. The report
Continue Reading Treasury Publishes First Report on Banking Regulations

While those of us in parts of the Mid-West and the East Coast received a snowy reminder this week that winter is still with us, a modest thaw of sorts nevertheless arrived on Thursday in Washington, D.C. for banking M&A and views on financial stability. The Federal Reserve has not
Continue Reading A Modest Yet Welcome Thaw for Banking M&A and Financial Stability

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Davis Polk and Autonomous Research discuss the OCC’s special-purpose national bank charter and its impact on growth-stage technology companies and financial incumbents. A wide range of business models and investors should understand the potential impact of the new charter. This webcast covers:

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Continue Reading Davis Polk Webcast On Demand: OCC’s New Special-Purpose Charter – Business Opportunities and Challenges for Fintech and Beyond

Today, the House of Representatives passed, by a 254-161 vote, the Systemic Risk Designation Improvement Act of 2016 (the “Act”), which is designed to relieve regional and specialty banking organizations from enhanced prudential standards and heightened supervision requirements under the Dodd-Frank Act. The Act would, after a one-year phase-in period,
Continue Reading The Systemic Risk Designation Improvement Act of 2016: A Different Approach to Regulatory Relief for Regional and Specialty Banking Organizations