On February 12, the Fed announced that results from the latest supervisory stress tests conducted as part of Dodd-Frank will be released on March 5, and the related results from the Comprehensive Capital Analysis and Review, will be released on March 11. Results for both exercises will be released at 4:30 p.m. Release.
On February 4, the Financial Stability Oversight Council (Council) today announced changes to certain practices relating to its process for reviewing nonbank financial companies for potential designation. Nonbank financial companies that are designated by the Council are subject to supervision by the Federal Reserve and enhanced standards. The Council will, amongst other things, inform companies earlier when they come under review and make available to the public additional information about its designations process. Release.
On January 26, 2015 the Federal Reserve issued a multi-faceted plan for collaborating with payment system stakeholders, including large and small businesses, emerging payments firms, card networks, payment processors, consumers and financial institutions to enhance the speed, safety and efficiency of the U.S. payment system. Release.
In 2003, the Federal Reserve released its proposed interpretation of the anti-tying provisions of the Bank Holding Company Act Amendments, in which it stated that market power and anti-competitive effects were not necessary elements of an illegal tying arrangement. Despite substantial commentary on the Federal Reserve’s proposed interpretation from financial institutions and other regulators, including the Department of Justice, the Federal Reserve has not revised its proposed interpretation of the anti-tying provisions of the BHC Act. This alert discusses a recent regulatory publication raising the possibility that the Federal Reserve may be revisiting its earlier stance. For more information, please click here.
On March 16, the Federal Open Market Committee and the Board of Governers of the Federal Reserve issued a statement on monetary policy and said that the TALF will close as scheduled on June 30 for loans backed by new-issue CMBS and on March 31 for loans backed by all other types of collateral. Release.
