A recent report by the Basel, Switzerland-based Financial Stability board highlighted significant data gaps that are impeding regulators’ ability to conduct a comprehensive assessment of the financial stability risks associated with the market for leveraged loans and collateralized loan obligations.
Browsing: Compliance and Risk
Six federal regulatory agencies are commencing a mandated review of the Dodd-Frank Act’s mortgage risk retention rule, which was finalized in 2014.
Financial firms that have not started their work to transition from the London Interbank Offered Rate and making fallback plans for contracts—especially loans—that currently reference it need to begin right away, the Basel, Switzerland-based Financial Stability Board said in a progress report today on the reference rate transition.
The Securities Exchange Commission today finalized a package of proposed changes and guidance related to the regulation of cross-border security-based swaps, including single-name credit default swaps.
The Federal Reserve and FDIC today determined that the nation’s eight largest banks did not have deficiencies in their most recent resolution plans, which detail how they would be resolved in the event of failure.
Regulators’ proposed changes to interagency guidance on credit risk review systems are “either too broad or overly prescriptive,” and could impose a significant cost burden on smaller institutions, the American Bankers Association warned in a comment letter today.
Next year, the FSB expects to tackle fintech developments worldwide, including the growing role of big tech firms in finance; the development of so-called “stablecoins,” virtual currencies pegged to real assets to minimize volatility; innovation to remove friction in cross-border payments; and the transition away from the London Interbank Offered Rate to new benchmarks.
In this bonus episode of the ABA Banking Journal Podcast, senior OCC policy official Grovetta Gardineer digs into the details of the OCC and FDIC’s notice of proposed rulemaking on the Community Reinvestment Act.
The OCC and the FDIC today proposed major changes to the regulations implementing the Community Reinvestment Act.
The Treasury’s Office of Financial Research flagged corporate credit, market, macroeconomic and cyber risk as elevated concerns in its annual financial stability report today.