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Posted Date: Monday, January 22, 2018
Numerous financial trade organizations are hailing the Federal Housing Finance Agency’s (FHFA) recent proposal for reforming the housing finance system as further evidence of what they long have contended: the secondary mortgage market should incorporate private capital.
The FHFA recently published a report entitled, “Federal Housing Finance Agency Perspectives on Housing Finance Reform,” proposing that Fannie Mae and Freddie Mac should be reincorporated as private entities. FHFA Director Mel Watt also wrote to the Senate Banking Committee, detailing his views on the matter.
Find out which recommendations the agency outlined closely align with proposals published by the financial industry. Read on »
Posted Date: Tuesday, May 16, 2017
Having long contended that conservatorship for the government-sponsored enterprises (GSEs) is unsustainable, Federal Housing Finance Agency Director Mel Watt recently testified to the Senate Banking Committee about actions he feels need to take place to work toward reforming the housing finance market. Read on to find out what he and members of the committee had to say about the issues facing the agency and Congress regarding the matter. Read on »
Posted Date: Friday, June 10, 2016
The Federal Financial Institutions Examination Council (FFIEC) has advised financial institutions to actively manage the risks associated with interbank messaging and wholesale payment networks, emphasizing that institutions should review risk-management practices and controls related to information technology systems and wholesale payment networks. Read on to learn more. Read on »
Posted Date: Friday, May 13, 2016
The Office of the Comptroller of the Currency’s Committee on Bank Supervision has released a mid-cycle status report on its operating plan, which sets forth the agency’s broad supervision priorities and objectives. Supervision’s focus will center on compliance, operational resiliency, credit risk management, stress testing, strategic planning and execution, corporate governance and interest rate risk. Read on to learn more. Read on »
Posted Date: Friday, April 15, 2016
The Federal Deposit Insurance Corp. and the Federal Reserve Board have determined that the 2015 resolution plans from Bank of America, Bank of New York Mellon, JP Morgan Chase, State Street and Wells Fargo were not credible. The regulators also reviewed the plans from Goldman Sachs, Morgan Stanley and Citigroup. Read on to learn more. Read on »
Posted Date: Tuesday, March 29, 2016
The Federal Reserve, Federal Deposit Insurance Corp., Financial Crimes Enforcement Network, National Credit Union Administration and the Office of the Comptroller of the Currency issued a joint guidance on how the Customer Identification Program, as set forth under the USA Patriot Act, should be applied to prepaid cards. Read on for clarity regarding who is a “customer” and what is an “account” under the program’s rule. Read on »
Posted Date: Tuesday, March 22, 2016
The U.S. Court of Appeals for the District of Columbia Circuit has decided to transfer the Loan Syndications and Trading Association’s challenge to the Credit Risk Retention Rule in December 2014. The association had argued that certain regulations implemented by the Securities and Exchange Commission and Federal Reserve Board were contrary to law or arbitrary and capricious. Read on for more details. Read on »
Posted Date: Friday, February 26, 2016
Before the House Financial Services Subcommittee on Capital Markets and Government Sponsored Enterprises, the executive vice president in charge of research and analysis at Loan Syndications and Trading Association testified about the importance of revising the risk retention rules to prevent adverse effects on collateralized loan obligations. She explained the potential benefits of the “Qualified CLO,” as proposed under the Expanding Proven Financing for American Employers Act of 2015. Read on »
Posted Date: Monday, December 01, 2014
An industry group launched a legal challenge targeting provisions of final Dodd-Frank risk retention rules unveiled in October. The Loan Syndications and Trading Association previously argued that the rules could harm the market for collateralized loan obligations, which is an important source of funding for U.S. businesses. Read on to learn about the group’s concerns. Read on »
Posted Date: Wednesday, October 22, 2014
As expected, federal agencies working to implement Dodd-Frank’s credit risk retention provisions unveiled final rules that will align the key “qualified residential mortgage” definition with the Consumer Financial Protection Bureau’s “qualified mortgage” definition. The agencies finalized the rules despite continued concern from some top regulators. Read on to learn about the final rules and why one member of the Federal Deposit Insurance Corp. board could not support them. Read on »
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Host State Loan-to-Deposit Ratios 2016The Federal Reserve Board, Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. have issued information on the host state loan-to-deposit ratios, which are used to determine compliance under Section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994. Review the ratios in Dodd Frank Update’s Library. Fed, FDIC, OCC, Riegle-Neal |
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