Federal Register

OCC, Board of the Federal Reserve and FDIC Publish Final Rule Implementing Net Stable Funding Ratio

Elizabeth WilliamsPosted on March 5, 2021

On February 24, the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation (FDIC) published a final rule in the Federal Register implementing the net stable funding ratio. The rule implements a minimum stable funding requirement for covered institutions, with the intention of reducing the likelihood that disruptions to a covered institution’s regular sources of funding would affect such institution’s liquidity position in a way that could lead to systemic stress. The covered institutions include U.S. depository institution holding companies, depository institutions or U.S. intermediate holding companies of a foreign banking organization with more than $100 billion in total consolidated assets that meet certain asset size and risk factor requirements. Bulletin.

Securities and Exchange Commission Proposes to Modernize Key Market Infrastructure Responsible for Collecting, Consolidating, and Disseminating Securities Market Data

Eric NymanPosted on March 23, 2020

On February 14, the SEC proposed to modernize the infrastructure for the collection, consolidation, and dissemination of market data for exchange-listed national market system (NMS) stocks. Comments on the proposed SEC Rule are due 60 days after publication in the Federal Register. Release.

Thresholds Increase for the Major Assets Prohibition of the Depository Institution Management Interlocks Act Rules

Editorial BoardPosted on October 21, 2019

On October 10, the Office of the Comptroller of the Currency (OCC) published a final rule in the Federal Register that increases the major assets prohibition thresholds for management interlocks in the OCC’s rule implementing the Depository Institution Management Interlocks Act (DIMIA). The final rule reduces the number of national banks and federal savings associations subject to the major assets prohibition in the OCC’s DIMIA rule by increasing both major assets prohibition thresholds from $1.5 billion and $2.5 billion to $10 billion. Release.

Amendments to the Stress Testing Rule for National Banks and Federal Savings Associations

Editorial BoardPosted on October 21, 2019

On October 10, the OCC published a final rule in the Federal Register that will amend the OCC’s stress testing rule at 12 CFR 46. The final rule implements requirements imposed by section 401 of the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA). The final will raise the minimum asset threshold for national banks and federal savings associations covered by the company-run stress testing requirement from $10 billion to $250 billion in total consolidated assets. Release.

CFTC Reopens Comment Periods

Editorial BoardPosted on March 2, 2015

On February 24, the CFTC submitted for publication in the Federal Register a notice reopening the comment periods for the two Position Limit rulemakings, in anticipation of questions and comments that may arise from the Commission’s Energy and Environmental Markets Advisory Committee meeting. Release.

SEC Publishes Technical Corrections to Regulation AB II

Editorial BoardPosted on February 6, 2015

On February 4, the SEC released certain technical corrections to rules that were published in the Federal Register on September 24, 2014. The changes effect Regulation AB and other rules governing the offering process, disclosure, and reporting for asset-backed securities. The corrections are effective February 6, 2015. Release.

Joint Federal Regulators Approve Final Risk Retention Rules

Editorial BoardPosted on October 28, 2014

On October 21 and 22, the Fed, HUD, FDIC, FHFA, OCC, and SEC jointly approved final risk retention rules. The final rules, which implement Section 941 of Dodd Frank, generally follow the re-proposed rules issued in August 2013, mandating that sponsors retain at least 5% of the credit risk in asset-backed securities transactions. Generally, risk may be retained by holding either a horizontal or avertical slice of issued securities, while additional options are available for specific types of securitizations. The rules will apply toresidential mortgage-backed securities one year after publication in the Federal Register, and will apply to all other asset classes two years after publication. Final Rules. Joint Release.

Final Regulation AB II Rules Published in the Federal Register

Editorial BoardPosted on October 3, 2014

On September 24, the final Regulation AB II rules were published in the Federal Register. The final Regulation AB II rules become effective on November 24 and market participants must be in compliance with the final Regulation AB II rules (other than the asset-level disclosure requirements) no later than November 23, 2015 and with the asset-level disclosure requirements no later than November 23, 2016. Published Rule.

SEC Issues Proposed Rule on Amendments to Regulation A

Editorial BoardPosted on January 6, 2014

On December 18, the SEC proposed rule amendments to Regulation A implementing Section 401 of the JOBS Act directing the SEC to exempt annual offerings of up to $50 million from registration. The comment period will close 60 days after publication in the Federal Register. Proposed Rule.

HUD Publishes Final Rule on Rental Assistance Demonstration

Posted on July 30, 2012

On July 26, the HUD’s final rule on Rental Assistance Demonstration (“RAD”) was published in the Federal Register. RAD allows public housing agencies and owners of certain federally-assisted housing properties to convert current levels of government assistance into long-term contracts. Release. Final Rule.

Finance 20/20