Nominees
Federal Reserve
The Fed
Biden refers to ‘decisive action’ taken by Powell, Brainard as support for their nominations as chair, vice chair of Fed Board
Referring to “decisive action” taken by his respective nominees to be chair and vice chair of the Federal Reserve Board, President Joe Biden (D) Monday said both Jerome H. (“Jay”) Powell and Lael Brainard had […]
FDIC
Banking agencies finalize cyber incident notification rule, set April 1 effective date
A final rule on requiring banks’ notification to federal regulators of certain cyber incidents with potentially systemic impacts was approved jointly Thursday by federal banking agencies. The rule is set to take effect April 1, […]
The Fed
Stablecoin issuance should extend well beyond banks, credit unions, Fed governor asserts
The use of stablecoins deserves a look – and issuance should be broader than just that by banks and credit unions, the newest Federal Reserve Board governor indicated in a speech delivered Wednesday. Speaking via […]
FDIC
Nothing to see here: Report states ‘no material differences’ among regulators’ accounting, capital standards
There are no differences in accounting standards, and some technical differences among capital standards, among the federal banking agencies, the three regulators said in a report scheduled to be published Thursday in the Federal Register. […]
The Fed
Risk management issues at Chinese bank, branch lead to enforcement action; former MD banker prohibited
Enforcement actions against a Chinese bank and its New York branch, and against a former Maryland banker, were revealed Tuesday by the Federal Reserve. The Commercial Bank of China Ltd., of the People’s Republic of […]
CFPB
Bank, credit union regulators cease COVID-related supervisory ‘flexibility’ for mortgage servicers
Federal and state financial institution regulators on Wednesday said they were ending the flexible approach to supervision and enforcement they initiated in April 2020 regarding certain mortgage servicing timing requirements. The agencies – the Federal […]
FDIC
Year-end 2021 bank call reports will include line to indicate SA-CCR opt-in; DTA instructions unchanged for now
All three versions of the federal banking agencies’ call reports for supervised institutions will include an item allowing institutions to indicate if they have voluntarily adopted or voluntarily elected the standardized approach for counterparty credit […]
The Fed
Rising home prices not accompanied by falling credit standards, highly leveraged investing, financial stability report finds
Despite rising prices for houses, there is little evidence of declining credit standards for loans or highly leveraged investment activity in the housing market, the Federal Reserve’s Monday report on financial stability indicated. However, the […]
The Fed
Consent order targets UAE bank’s compliance with U.S. sanctions laws
Questions about compliance with U.S. sanctions laws have led to a consent cease-and-desist order against a bank headquartered in the United Arab Emirates, the Federal Reserve said Tuesday. The order, the Fed said, against Mashreqbank […]