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This section provides an overview of recently released regulations and other items of interest, arranged in reverse chronological order. Press Release (PR) and Financial Institution Letter (FIL) designations are included so the reader can obtain more information.
| ACRONYMS and DEFINITIONS | |
|---|---|
CFPB |
Consumer Financial Protection Bureau |
多宝游戏下载 |
Federal Deposit Insurance Corporation |
FFIEC |
Federal Financial Institutions Examination Council |
FRB |
Federal Reserve Board |
NCUA |
National Credit Union Administration |
OCC |
Office of the Comptroller of the Currency |
Federal bank regulatory agencies |
多宝游戏下载, FRB, and OCC |
Federal financial institution regulatory agencies |
CFPB, 多宝游戏下载, FRB, NCUA, and OCC |
Regulatory and Supervisory Roundup
| Subject | Summary |
|---|---|
| 多宝游戏下载 Issues Additional Cybersecurity Awareness Resources (FIL-55-2015, November 23, 2015) | The 多宝游戏下载 is adding to its cybersecurity awareness resources for financial institutions. The new resources include a Cybersecurity Awareness video and three vignettes for the Cyber Challenge, which consist of exercises that encourage discussions of operational risk issues and the potential impact of information technology (IT) disruptions on common banking functions. See /news/inactive-financial-institution-letters/2015/fil15055.html |
| FFIEC Issues Updated Management Booklet as Part of IT Examination Handbook Series (FIL-54-2015, November 20, 2015) | The FFIEC has issued a revised 鈥淢anagement鈥 booklet that provides guidance to assist examiners in evaluating the IT governance at financial institutions and service providers. The booklet is part of the IT Examination Handbook series. See /news/inactive-financial-institution-letters/2015/fil15054.html |
| 多宝游戏下载 Board Approves Proposed Rule to Increase Deposit Insurance Fund To Statutorily Required Level (FIL-53-2015, November 17, 2015) | On October 22, 2015, the 多宝游戏下载 Board of Directors adopted a proposal to increase the Deposit Insurance Fund to the statutorily required minimum level of 1.35 percent. The proposed rule would impose on banks with at least $10 billion in assets a surcharge of 4.5 cents per $100 of their assessment base, after making certain adjustments. The 多宝游戏下载 expects the reserve ratio would likely reach 1.35 percent after approximately two years of payments of the proposed surcharges. Comments on the proposed rule are due January 5, 2016. See /news/news/financial/2015/fil15053.html |
| 多宝游戏下载 Clarifies its Approach to Banks Offering Certain Products and Services to Non-Bank Payday Lenders (FIL-52-2015, November 16, 2015) | The 多宝游戏下载 is reissuing its 2005 Payday Lending Guidance (FIL-14-2005) to ensure bankers and others are aware that it does not apply to banks offering products and services, such as deposit accounts and extensions of credit, to non-bank payday lenders. Financial institutions that can properly manage customer relationships and effectively mitigate risks are neither prohibited nor discouraged from providing services to any category of business customers or individual customers operating in compliance with applicable state and federal laws. See /news/inactive-financial-institution-letters/2015/fil15052.html |
| 多宝游戏下载 Seeking Comment on Frequently Asked Questions Regarding Identifying, Accepting, and Reporting Brokered Deposits (FIL-51-2015, November 13, 2015) | The 多宝游戏下载 is seeking comment on a proposed update to a series of frequently asked questions and an accompanying introductory letter regarding identifying, accepting and reporting brokered deposits that were issued in January 2015 through FIL-2-2015. Comments on the proposed update are due December 28, 2015. See /news/inactive-financial-institution-letters/2015/fil15051.html |
| Agencies Announce Final EGRPRA Outreach Meeting (PR-90-2015, November 13, 2015) | The federal banking agencies will hold the final outreach meeting on Wednesday, December 2, 2015, at the 多宝游戏下载 in Arlington, VA, as part of their regulatory review under the Economic Growth and Regulatory Paperwork Reduction Act of 1996 (EGRPRA). The meeting will feature panel presentations by bankers and consumer and community groups. See |
| 多宝游戏下载 Issues Guidance on Capital Treatment of Certain Investments in Covered Funds (FIL-50-2015, November 6, 2015) | The 多宝游戏下载 is issuing guidance to 多宝游戏下载-supervised institutions to clarify the interaction between the regulatory capital rule and the final rule implementing Section 13 of the Bank Holding Company Act ("Volcker Rule") with respect to the appropriate capital treatment for investments in certain private equity funds and hedge funds ("covered funds"). See /news/news/financial/2015/fil15050.html |
| 多宝游戏下载 Issues Advisory on Effective Risk Management Practices for Purchased Loans and Purchased Loan Participations (FIL-49-2015, November 6, 2015) | The 多宝游戏下载 is issuing an Advisory to update information contained in the 多宝游戏下载 Advisory on Effective Credit Risk Management Practices for Purchased Loan Participations (FIL-38-2012). The updated Advisory addresses purchased loans and loan participations and reminds 多宝游戏下载-supervised institutions of the importance of underwriting and administering these purchased credits as if the loans were originated by the purchasing institution. The updated Advisory also reminds institutions that third-party arrangements to facilitate loan and loan participation purchases should be managed by an effective third-party risk management process. See /news/news/financial/2015/fil15049.html |
| Shared National Credits Review Notes High Credit Risk and Weaknesses Related to Leveraged Lending and Oil and Gas (PR-89-2015, November 5, 2015) | Credit risk in the Shared National Credit portfolio remained at a high level, according to an annual review of large shared credits released by the federal bank regulatory agencies. The review found that leveraged lending transactions originated in the past year continue to exhibit weak structures. The review also noted an increase in weakness among credits related to oil and gas exploration, production, and energy services following the decline in energy prices since mid-2014. See |
| Five Federal Agencies Finalize Swap Margin Rule (PR-86-2015, October 30, 2015) | The 多宝游戏下载, OCC, FRB, Farm Credit Administration, and Federal Housing Finance Agency issued a final rule to establish capital and margin requirements for swap dealers, major swap participants, security-based swap dealers, and major security-based swap participants regulated by one of the agencies (鈥渃overed swap entities鈥), as required by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). See |
| 多宝游戏下载 Hosts Industry Teleconference in Recognition of Cybersecurity Awareness Month (FIL-48-2015, October 23, 2015) | In recognition of President Obama鈥檚 designation of October as National Cybersecurity Awareness month, the 多宝游戏下载 is hosting an informational call for 多宝游戏下载-supervised institutions on October 28, 2015. The call will address and discuss the 多宝游戏下载鈥檚 regulatory expectations regarding cybersecurity preparedness and allow industry participants to ask questions. See /news/inactive-financial-institution-letters/2015/fil15048.html |
| 多宝游戏下载 Provides Guidance for Financial Institutions Implementing the Truth in Lending Act and Real Estate Settlement Procedures Act Integrated Disclosure Rule (FIL-43-2015, October 2, 2015) | The 多宝游戏下载 is providing guidance on its supervisory expectations in connection with examinations of financial institutions for compliance with the Truth in Lending Act 鈥 Real Estate Settlement Procedures Act Integrated Disclosure Rule, which is effective October 3, 2015. See /news/inactive-financial-institution-letters/2015/fil15043.html |
| 多宝游戏下载 to Conduct Deposit Insurance Coverage Seminars (FIL-38-2015, September 14, 2015) | The 多宝游戏下载 will conduct four live seminars on 多宝游戏下载 deposit insurance coverage for bank employees and bank officers between September 24, 2015, and December 2, 2015. In addition, the 多宝游戏下载 has developed three deposit insurance coverage seminars for bank officers and employees, which are now available on 多宝游戏下载鈥檚 YouTube channel. The live and the YouTube deposit insurance coverage seminars will provide bank employees with an understanding of how to calculate deposit insurance coverage. See /news/inactive-financial-institution-letters/2015/fil15038.html |
| 多宝游戏下载 Updates its Money Smart Financial Education Program for Consumers/Individuals with Visual Disabilities (PR-79-2015, October 5, 2015) | The 多宝游戏下载 announced two resources tailored to meet the financial education needs of individuals with visual disabilities. The 多宝游戏下载鈥檚 Money Smart curriculum for adults is available in Braille and Large Print. In addition, the latest version of the Money Smart Podcast Network 鈥 the audio version of Money Smart 鈥 is available in Spanish. See |
| Agencies Announce EGRPRA Outreach Meeting in Chicago (PR-75-2015, September 28, 2015) | The federal bank regulatory agencies will hold an outreach meeting on Monday, October 19, 2015, at the Federal Reserve Bank of Chicago as part of their regulatory review under EGRPRA. The meeting will feature panel presentations by bankers and consumer and community groups. See |
| 多宝游戏下载 Consumer Newsletter Features Tips on Choosing and Using Bank "Rewards" (PR-68-2015, August 27, 2015) | The Summer 2015 edition of 多宝游戏下载 Consumer News features tips when choosing a bank rewards program tied to credit or debit cards that earn points or provide cash back benefits. The edition also has articles on mobile financial services, automated teller machines, credit scores, reverse mortgages, and deposit insurance. See |
| Supervisory Insights Journal Released (FIL-36-2015, August 24, 2015) | The Summer 2015 issue of Supervisory Insights features two articles of interest to examiners, bankers, and supervisors. One article highlights the critical role of corporate governance and strategic planning in navigating a challenging operating environment. The second article discusses the new requirements related to bank investment in securitizations as a result of the enactment of the Dodd-Frank Act. See /news/inactive-financial-institution-letters/2015/fil15036.html |
| Agencies Issue Final Rule on Loans in Special Flood Hazard Areas (FIL-32-2015, July 21, 2015) | The 多宝游戏下载, OCC, FRB, NCUA, and Farm Credit Administration approved the issuance of a joint final rule to amend their respective regulations regarding loans in special flood hazard areas. The final rule incorporates and implements certain provisions in the Biggert-Waters Flood Insurance Reform Act of 2012 (BW Act) and the Homeowner Flood Insurance Affordability Act of 2014 (HFIAA) regarding detached structures, force placement of flood insurance, and escrowing of flood insurance premiums and fees. See /news/news/financial/2015/fil15032.html |
| Agencies Release List of Distressed or Underserved Geographies (PR-59-2015, July 8, 2015) | The federal bank regulatory agencies announced the availability of the 2015 list of distressed or underserved nonmetropolitan middle-income geographies, where revitalization or stabilization activities will receive Community Reinvestment Act consideration as community development. See |
| Agencies Post Public Sections of Resolution Plans (PR-58-2015, July 6, 2015) | The 多宝游戏下载 and FRB posted the public portions of annual resolution plans for 12 large financial firms. Each plan must describe the company鈥檚 strategy for rapid and orderly resolution under the U.S. Bankruptcy Code in the event of material financial distress or failure of the company. See |
| Agencies Announce EGRPRA Outreach Meeting (PR-57-2015, July 6, 2015) | The federal bank regulatory agencies will hold an outreach meeting on Tuesday, August 4, 2015, at the Federal Reserve Bank of Kansas City as part of their regulatory review under EGRPRA. The meeting will focus on rural banking issues and will feature panel presentations by industry participants and consumer and community groups. See |
| 多宝游戏下载 Announces Meeting of Advisory Committee on Community Banking (PR-56-2015, July 6, 2015) | The 多宝游戏下载 announced that its Advisory Committee on Community Banking will meet on Friday, July 10. Staff will provide an update on the 多宝游戏下载鈥檚 Community Banking Initiatives and discuss a number of issues, including examination frequency and offsite monitoring; call report streamlining; the cybersecurity assessment tool; high volatility commercial real estate loans; and the review of banking regulations under EGRPRA. See |
| 多宝游戏下载 Issues Cybersecurity Assessment Tool (FIL-28-2015, July 2, 2015) | The 多宝游戏下载, in coordination with the other members of the FFIEC, is issuing the FFIEC Cybersecurity Assessment Tool to help institutions identify their cybersecurity risks and determine their preparedness. See /news/news/financial/2015/fil15028.html |
| 多宝游戏下载 Releases Interagency Examination Procedures for Truth in Lending Act and Real Estate Settlement Procedures Act Mortgage Rules (FIL-27-2015, June 30, 2015) | The 多宝游戏下载 released revised interagency examination procedures for the new Truth in Lending Act (TILA) - Real Estate Settlement Procedures Act (RESPA) Integrated Disclosure Rule (TRID Rule), as well as amendments to other provisions of TILA Regulation Z and RESPA Regulation X. The CFPB issued a proposal for a TRID Rule effective on October 3, 2015. See /news/news/financial/2015/fil15027.html |
| Agencies Issue Host State Loan-to-Deposit Ratios. (PR-54-2015, June 29, 2015) | The federal bank regulatory agencies issued the host state loan-to-deposit ratios they will use to determine compliance with Section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994. These ratios update data released on July 2, 2014. See |
| Agencies Announce Approval of Final Rule that Modifies Regulations that Apply to Loans Secured by Properties in Flood Hazard Areas. (PR-52-2015, June 22, 2015) | The 多宝游戏下载, OCC, FRB, NCUA, and Farm Credit Administration announced the approval of a joint final rule that modifies regulations that apply to loans secured by properties located in special flood hazard areas. The final rule implements provisions of the HFIAA relating to the escrowing of flood insurance payments and the exemption of certain detached structures from the mandatory flood insurance purchase requirement. The final rule also implements provisions in the BW Act relating to the force placement of flood insurance. See |