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OCC/FDIC Comments due
October 11, 2017
Securities Transaction Settlement Cycle
Federal Register summary: The OCC and the FDIC (“Agencies”) are proposing to shorten the standard settlement cycle for securities purchased or sold by national banks, federal savings associations, and FDIC-supervised institutions. The Agencies’ proposal is consistent with an industry-wide transition to a two-business-day settlement cycle, which is designed to reduce settlement exposure and align settlement practices across all market participants. (30-day comment period)