A bipartisan, ABA-advocated bill to address “tough legacy” Libor contracts is included in the omnibus spending bill that Congress is expected to pass in the coming days, Sen. Jon Tester (D-Mont.) said at the ABA Washington Summit today.
With the expiration of coronavirus-related relief provided under the CARES Act, the community bank leverage ratio will revert to a minimum of 9% starting on Jan. 1, 2022, the banking agencies said today.
The FDIC proposed changes to its guidelines for real estate lending policies in order to align standards with the community bank leverage ratio, which does not require electing institutions to calculate tier 2 capital or total capital.
Banks have been a source of strength for the economy during the pandemic. A year into the crisis, the blunt instrument of leverage ratios is about to make it harder for banks of all sizes to support the recovery.
With the acute phase of the coronavirus crisis past and a return to normal economic activity in sight, the federal banking agencies today said they would let a temporary change to the supplementary leverage ratio expire as scheduled on March 31.
The OCC, the Federal Reserve and the FDIC have adopted a final rule that codifies temporary changes to changes to the community bank leverage ratio and addresses the transition process for banks using the CBLR framework.
The federal banking agencies today finalized several rules originally issued as interim final rules during the spring weeks of the emergency coronavirus response.
As required by Section 4012 the CARES Act, the federal banking agencies today temporarily lowered the community bank leverage ratio, issuing two interim final rules to set the CLBR at 8% and then gradually re-establish it at 9%.
On Friday, the House passed—and President Trump signed into law—the CARES Act, a $2 trillion stimulus package to provide relief to American consumers and businesses struggling as a result of the coronavirus pandemic.
The Senate unanimously passed a sweeping $2 trillion stimulus package to provide relief to American consumers and businesses struggling as a result of the coronavirus pandemic.