The Commodity Futures Trading Commission today proposed a rule that would exempt from clearing requirements certain swaps entered into by financial holding companies with less than $10 billion in assets.
Thanks to a joint statement by the federal banking agencies today, the Dodd-Frank Act-mandated company-run stress tests have been ended for banks, as well as bank holding companies, with less than $100 billion in assets.
The Federal Reserve, FDIC and OCC today issued a long-awaited report mandated by Section 620 of the Dodd-Frank Act in which they called for sweeping changes to banks’ powers.
The Federal Reserve today finalized a rule offering examples of how the Basel III requirements for common equity tier 1 capital would be satisfied by bank holding companies not organized as stock corporations, such as limited liability companies and partnerships.
A group of senators and representatives today issued a reconciled version of a long-term highway funding bill that includes a modified but still substantial cut to the dividends paid on the Federal Reserve Bank stock that national banks and other Fed member banks are required to hold.
The House today voted 371-54 to approve a long-term highway funding bill. Just prior to passage, the House overwhelmingly approved measures that would remove controversial funding methods from the bill.
The full House today passed two ABA-supported bills by voice votes. The bipartisan bills would equalize the SEC registration and de-registration thresholds for savings and loan holding companies (H.R. 1334) and require regulators to conduct a study of Basel III’s effect on mortgage servicing assets (H.R. 1408).
Senate Banking Committee Chairman Richard Shelby (R-Ala.) today released a draft of a sweeping financial reform bill that would provide regulatory relief for banks of all sizes, tailor the regulatory structure for systemically important banks and begin restructuring within the Federal Reserve System and at Fannie Mae and Freddie Mac.
In the first four months of the 114th Congress, 28 ABA-supported bills have been introduced, ABA bankers and staff have testified before Congress four times, the Federal Reserve finalized an ABA-advocated rule change helping smaller banks and ABA Chairman John Ikard participated in President Obama’s cybersecurity summit.