The federal banking regulators today issued long-expected guidance on the methodology banks can use to deduct investments from tier 1 capital under the Volcker Rule and the Basel III regulatory capital rule. Noting that the deduction of investments in certain Volcker-covered funds could overlap with that under the regulatory capital rule, the agency guidance is intended to clarify the interaction of the two and provide a deduction methodology that will avoid double deductions.
CFPB proposes changes to remittance disclosures
The CFPB proposed a “narrowly tailored” rule to amend disclosure requirements for certain international money transfers, or remittances.