OCC

Agencies Propose Simplifying Regulatory Capital Rules

 

On September 27, 2017, the Federal Deposit Insurance Corporation, the Federal Reserve Board and the Office of the Comptroller of the Currency announced a proposed rule intended to decrease regulation under these entities’ “regulatory capital rule.” The proposed rule “would apply only to banking organizations that are not subject to the ‘advanced approaches’ in the capital rule, which are generally firms with less than $250 billion in total consolidated assets and less than $10 billion in total foreign exposure.” FDIC Release. Federal Reserve Release. OCC Release.

OCC Solicits Public Comments on Revising the Volcker Rule

 

On August 2, 2017, the Office of the Comptroller of the Currency (“OCC“) issued a public notice that it is seeking public input on revising the final regulation implementing section 619 of the Dodd–Frank Wall Street Reform and Consumer Protection Act of 2010 (commonly known as the Volcker Rule).

The Notice, to be published in the Federal Register, solicits public input on whether certain aspects of the implementing regulation should be revised to better accomplish the purposes of section 619 while decreasing the compliance burden on banking entities and fostering economic growth. In particular, the OCC invites input on ways to tailor the rule’s requirements and clarify key provisions that define prohibited and permissible activities. The agency also seeks input on how the federal regulatory agencies could implement the existing rule more effectively without revising the regulation.  The OCC noted that:  “This is one piece of a larger interagency effort to improve the rule.”

The OCC requests that respondents provide any comments within 45 days of publication in the Federal Register. Release.

Federal Regulatory Agencies Announce Coordination of Reviews for Certain Foreign Funds Under “Volcker Rule”

 

On July 21, 2017, the Board of Governors of the Federal Reserve System, the Commodity Futures Trading Commission, the Federal Deposit Insurance Corporation, the Office of Comptroller of the Currency and the Securities and Exchange Commission announced they would work together as they reviewed the impact of the Volcker Rule on specific types of foreign funds. Federal Reserve Press Release. FDIC Press Release. OCC Press Release. SEC Press Release.