federal bank regulatory agencies

Federal Bank Regulators Issue Rule Supporting Treasury’s Investments in Minority Depository Institutions and Community-Development Financial Institutions

 

On March 9, federal bank regulatory agencies announced an interim final rule that supports the Treasury Department’s implementation of a program established by Congress to make capital investments in minority depository institutions and community-development financial institutions. The Treasury Department’s Emergency Capital Investment Program (ECIP) will support the efforts of these financial institutions to provide loans, grants and forbearance to small businesses, minority-owned businesses and consumers, especially in low-income and underserved communities, which may be disproportionately affected by COVID-19. Release.

Agencies Issue Final Rule Regarding the Treatment of Certain Municipal Obligations as High-Quality Liquid Assets

 

The federal bank regulatory agencies issued a final rule requiring that certain municipal obligations be treated as high-quality liquid assets if the municipal obligation is “liquid and readily marketable” and “investment grade” under the liquidity coverage ratio rules. Press Release.