joint notice of proposed rulemaking

Credit Risk Retention – Joint Regulatory Proposed Rules

On March 28, 2011, the Office of the Comptroller of Currency, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, the Securities and Exchange Commission, the Department of Housing and Urban Development and the Federal Housing Finance Agency released a joint notice of proposed rulemaking to implement the credit risk retention requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The paper linked below provides an in-depth examination of the proposed rules and their implications for financial markets. Click here to read more.

FDIC and Fed Proposed Rule on Resolution Plans and Credit Exposure Reports for Covered Systemic Organizations

On March 29, the FDIC and the Fed approved a joint notice of proposed rulemaking which would require covered systemic organizations to file and report resolution plans and credit exposure reports as required under Section 165 of the Dodd-Frank Act. Resolution plans would have to be submitted within 180 days of the effective date of the final regulation, and credit exposure reports would have to be filed 30 days after the end of each calendar quarter. Comments must be submitted within 60 days after publication in the Federal Register. FDIC Release. Proposed Rule.