The Securities and Exchange Commission and the Commodity Futures Trading Commission approved a joint final rule today to harmonize their margin levels for security futures “whether they are held in a futures account, a securities portfolio margin account, or a securities account that is not approved for portfolio margining.”
The CFPB today finalized a rule extending the temporary “GSE patch,” which grants QM status to loans eligible to be purchased or guaranteed by Fannie Mae or Freddie Mac, until the QM rule changes are finalized and take effect.
ABA and the Bank Policy Institute jointly backed the FDIC’s proposed new independent Office of Supervisory Appeals in a letter to the agency today.
For banks that have experienced rapid and possibly short-term inflows of assets and deposits during the coronavirus pandemic, the FDIC today issued an interim final rule providing relief from auditing, internal control and audit committee requirements that would have resulted from those inflows.
In response to a 2018 petition from ABA and the Bank Policy Institute, the federal banking agencies today issued a proposal that would codify their joint statement clarifying that regulatory guidance does not have the force and effect of law.
The federal banking agencies today finalized the Net Stable Funding Ratio, a long-term liquidity measurement that was the last major unfinished element of the Basel III liquidity standards.
The FDIC would like to see a consistent interagency approach to Community Reinvestment Act rules, FDIC Chairman Jelena McWilliams said today during ABA’s Unconventional Convention.
The American Bankers Association and seven other financial trade groups yesterday urged Congress to address the Small Business Administration’s approach to loan forgiveness for borrowers that received both Economic Injury Disaster Loans and Paycheck Protection Program loans.
The share of U.S. households that are unbanked continued falling in 2019, reaching 5.4%, the lowest rate yet recorded in a biennial FDIC report.
Speaking to the National Bankers Association, Federal Reserve Governor Lael Brainard today highlighted four new provisions specific to minority depository institutions in the Fed’s recent Community Reinvestment Act modernization proposal.