Latest developments from the FDIC (Federal Deposit Insurance Corp.), insurer of deposits in banks, thrifts and other financial institutions.
Testimony on the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) is set to be delivered during a Senate Banking Committee hearing Tuesday by Federal Reserve Board Chair Jerome H. (“Jay”) Powell and Treasury Secretary […]
A Texas man has been charged with filing phony applications seeking loans of up to $13 million under the Small Business Administration’s (SBA) Paycheck Protection Program (PPP) – at least the second case in which […]
Higher deposit insurance premiums will not be triggered by participation in some of the financial tools meant to help banks deal with the impact of the coronavirus crisis, under a proposal issued Tuesday by the […]
An interagency policy statement proposed last October on the interpretation and application of the accounting industry standard for the treatment of credit losses has been made final, along with interagency guidance on credit risk review […]
Restructuring existing loans, extending repayment terms, or easing terms for new loans using sound banking practices are among the actions recommended for South Carolina banks by the Federal Deposit Insurance Corp. (FDIC) as the banks […]
Deadlines for submission dates of “living wills” have been extended by 90 days for large foreign banks, and large and foreign banks under the “large bank regulatory framework,” two federal banking agencies said Wednesday. In […]
A May 12 hearing, held remotely and webcast live, on federal bank and credit union supervision is slated by the Senate Banking Committee, which plans to take testimony from the Federal Deposit Insurance Corp. (FDIC), […]
The receivership of North Milwaukee State Bank, Milwaukee, Wis., was terminated May 1, the Federal Deposit Insurance Corp. (FDIC) said in a notice for the Federal Register. North Milwaukee State Bank, with reportedly $67.1 million […]
Title: Liquidity Coverage Ratio Rule: Treatment of Certain Emergency Facilities Subject: LCR; PPPLF, MMMLF, coronavirus response Agency: FDIC, Federal Reserve, OCC Status: Interim final rule Summary: To provide liquidity to the money market sector, small […]
What are being called the first charges of fraudulent involvement in the massive federal program meant to protect pay of workers in the face of the coronavirus crisis were announced Tuesday by federal prosecutors. According […]
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