The Fed – Page 3 – Regulatory Report

What's up

[ April 3, 2020 ] W.V. bank becomes second of year to fail, result of long-standing issues (not necessarily coronavirus crisis) FDIC
[ April 3, 2020 ] Amid coronavirus challenges, comment period extended 60 days on brokered deposits restrictions FDIC
[ April 3, 2020 ] Banking agencies’ interim rule delaying CECL impact out for comment until May 15 FDIC
[ April 3, 2020 ] Materials strive to explain mortgage, foreclosure relief for homeowners under CARES Act CFPB
[ April 3, 2020 ] 30% of military consumer complaints in FY19 dealt with credit or consumer reporting, CFPB report shows CFPB

Fed adds to ‘aggressive efforts’ to limit job losses, incomes – and promote swift recovery

March 23, 2020 0

Describing its efforts as “extensive new measures to support the economy,” the Federal Reserve early Monday announced at least a half-dozen additional measures to address the “tremendous hardship” caused by the coronavirus pandemic both domestically […]

Agencies pledge ‘hands off’ approach as they urge financials to work with borrowers

March 23, 2020 0

Federal and state regulators – in urging financial institutions to work with borrowers on the financial impact of the coronavirus crisis – on Sunday pledged a “hands off” policy for banks, credit unions, and savings […]

Federal Reserve Banks’ assets hit $4.2 trillion in 2019, central bank reports; transfers to CFPB totaled $519 million

March 23, 2020 0

Combined assets for the 12 Federal Reserve Banks grew $116 billion to a total of $4.2 trillion in the year ending Dec. 31, 2019, with total earnings at $55.5 billion, down $7.6 million from the […]

Technical change would make limitations under TLAC rule more gradual

March 23, 2020 0

Any automatic limitations on capital distributions that could apply under the Federal Reserve’s “total loss-absorbing capacity” (TLAC) rule would be more gradual under a definition issued as a technical change Monday by the Federal Reserve. […]

New York Fed launches online resource ‘hub’ on coronavirus; FDIC, OCC, NCUA also have Info pages

March 20, 2020 0

A resource “hub” with curated information for business owners, employees, nonprofit, and community organizations impacted by the coronavirus (COVID-19) was launched Friday by the Federal Reserve Bank of New York. This web page is organized […]

Fed expands program to shore up state, municipal money market/mutual funds through loans to FIs

March 20, 2020 0

Loans secured by high-quality assets purchased from single state and other tax-exempt municipal money market mutual funds will be available to financial institutions under an expansion of the Federal Reserve’s liquidity program announced this week, […]

Fed is encouraged by ‘notable increase’ in discount window borrowing

March 19, 2020 0

The nation’s central bank issued a statement Thursday that it was encouraged by the notable increase this week in discount window borrowing, “with banks demonstrating a willingness to use the discount window as a source […]

Banking regulators issue Q&As to clarify statement on using capital and liquidity buffers

March 19, 2020 0

An interagency set of questions and answers (Q&As) addressing banking regulators’ recent encouragement for banks to use their capital and liquidity buffers to keep lending during the coronavirus pandemic was released Thursday via a Financial […]

Regulators clarify: Banks will receive favorable CRA consideration for community development activities in response to coronavirus crisis

March 19, 2020 0

The federal banking agencies will provide favorable consideration under Community Reinvestment Act (CRA) rules of certain banking services and community development activities by banks related to the coronavirus crisis, the agencies said Thursday. In a […]

Banking agencies issue rule allowing financial institutions to use new money market liquidity facility

March 19, 2020 0

Following up on the creation of a facility to shore up money market mutual funds, the federal banking agencies Thursday released an interim final rule that gives financial institutions the latitude to actually use the […]

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W.V. bank becomes second of year to fail, result of long-standing issues (not necessarily coronavirus crisis)

April 3, 2020 0

The second bank failure of the year was reported Friday by the federal insurer of bank deposits, as it announced a purchase and assumption for a West Virginia institution with another from the Mountain State. The First State Bank of [...]
Amid coronavirus challenges, comment period extended 60 days on brokered deposits restrictions

April 3, 2020 0

The comment period on proposed rule changes on brokered deposits restrictions applicable to less-than-well-capitalized banks is extended 60 days to June 9, according to the Federal Deposit Insurance Corp. (FDIC), which pointed to the challenges associated with the coronavirus (COVID-19). [...]
Banking agencies’ interim rule delaying CECL impact out for comment until May 15

April 3, 2020 0

Federal banking agencies’ recent decision to delay the estimated impact on regulatory capital stemming from implementation of the accounting industry governing board’s current expected credit losses (CECL) standard took effect officially on March 31, and regulators are accepting comments from [...]
Materials strive to explain mortgage, foreclosure relief for homeowners under CARES Act

April 3, 2020 0

A video and a guide to “mortgage relief options” have been developed by the federal consumer financial protection agency with an eye, the agency says, toward explaining to consumers how they can score mortgage forbearance if their finances are affected [...]
30% of military consumer complaints in FY19 dealt with credit or consumer reporting, CFPB report shows

April 3, 2020 0

Of total complaints received by the federal consumer financial protection agency in fiscal 2019 (Oct. 1, 2018, to Sept. 30, 2019), nearly one-third of them – 10,500, or 30% – were about credit or consumer reporting, according to a report [...]
Four banks ‘outstanding,’ 63 ‘satisfactory’ under CRA, FDIC reports

April 3, 2020 0

Of the 67 banks whose Community Reinvestment Act (CRA) ratings were assigned in April, none was found wanting, with four rated ‘outstanding’ and 63 rated ‘satisfactory,’ the federal bank deposit insurer reported Friday. In April, the Federal Deposit Insurance Corp. [...]
CFPB says supervision is ongoing, with adjustments due to coronavirus pandemic

April 2, 2020 0

The federal agency responsible for consumer financial protection on Thursday said it is continuing to conduct supervision with consumer protection in mind, but examinations and other supervisory work is being carried out remotely “for the time being” due to the [...]