Latest developments from the Office of the Comptroller of the Currency (regulator of national banks)
A flood insurance rule that, effective July 1, will require lenders to accept policies meeting the statutory definition of “private flood insurance” is explained in a bulletin issued to national banks and federal savings associations […]
The federal regulator of national banks followed erroneous guidance on certain employee ethics requirements for 15 years despite subsequent guidance issued by the Treasury that should have cleared up any ambiguity, a letter from the […]
Title: Regulatory Capital Treatment for High Volatility Commercial Real Estate (HVCRE) Exposures Subject: HVCRE Agency: OCC, Federal Reserve, FDIC Status: Final rule Summary: The Office of the Comptroller of the Currency, the Board of Governors […]
A consent cease-and-desist order with USAA Federal Savings Bank (San Antonio, Texas), a civil money penalty against a former Oklahoma banker, and a prohibition order against a former banker indicted in a currency manipulation case […]
The comment period was extended Friday by one month for a proposed rule to update the standards for regulators about how financial firms measure counterparty credit risk posed by derivative contracts. The extension means comments […]
The federal regulator of national banks and federal savings associations issued a bulletin Wednesday pointing supervised institutions to the proposed stress testing rule that was published this week in the Federal Register. In Bulletin 2019-7, […]
A final rule providing the option for financial institutions and firms to phase in over a three-year period the day-one regulatory capital effects of the “current expected credit losses” (CECL) accounting methodology is finally scheduled […]
Title: Regulatory Capital Rule: Implementation and Transition of the Current Expected Credit Losses Methodology for Allowances and Related Adjustments to the Regulatory Capital Rule and Conforming Amendments to Other Regulations Subject: CECL Agency: FDIC, Federal […]
Compliance and operational risks will be the subjects of two workshops for bank directors next month, sponsored by the federal regulator of national banks. The Office of the Comptroller of the Currency (OCC) said in […]
Title: Notice of Inflation Adjustments for Civil Money Penalties Subject: CMP Agency: OCC Status: Final rule Summary: The Office of the Comptroller of the Currency (OCC) is providing notice of its maximum civil money penalties […]
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