Title VIII

A newly adopted final rule by the Federal Reserve (Fed) will strengthen the government’s ability to resolve the largest domestic and foreign financial institutions operating in the U.S. without any support from taxpayer-provided capital. 

The final rule applies to domestic firms the Fed identifies as global systemically important banks (G-SIBs) and to the U.S. operations of foreign G-SIBs. These institutions will be required to meet a new long-term debt requirement and a new “total loss-absorbing capacity” requirement, which can be met with both regulatory capital and long-term debt.

Read on to learn more about the new rule. 

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Nearly five years after its initial notice of proposed rulemaking for regulations implementing speculative position limits, the Commodity Futures Trading Commission (CFTC) unanimously voted to repropose regulations.

The regulations would affect speculative positions in 25 core physical commodity futures contracts and their “economically equivalent” futures, options and swaps (referenced contracts). The changes come after a 2011 final rule was vacated by federal courts, restarting the rulemaking process. Read on to learn more about the latest iteration of CFTC’s proposal. 

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Mortgage rates have been unexpected throughout 2016, whether that was a lower-than-usual rate following Brexit or a sharp spike after the elections. But Black Knight Financial Services Senior Vice President of Data and Analytics Division Ben Graboske said millions of borrowers still could benefit from refinancing.

In recent analysis by the firm, they found nearly 9 million borrowers who could benefit from a refinancing, saving an average of $90,000 by going through the process.

Will they? Why haven’t they yet? Read on for our 1-on-1 interview with Graboske.

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Nomura Asset Acceptance Corporation and Nomura Home Equity Loan, Inc. jointly agreed to pay a settlement of more than $3 million to the National Credit Union Administration in response to allegations that the entities sold faulty residential mortgage-backed securities to two corporate credit unions.

Read on to find out more about the case against Nomura and other organizations. 

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The Federal Reserve finalized a rule amending risk management standards for financial market utilities that have been designated as systemically important. The Fed also announced final revisions to Part 1 of its Policy on Payment System Risk. The rule and policy amendments touch issues including establishing separate standards to address credit risk and liquidity risk, new requirements on recovery and orderly wind-down planning and others. Read on for the details. Read on »

The Federal Reserve asked for public feedback on a proposal to revise risk-management standards for systemically important financial market utilities — firms that operate systems to transfer, clear and settle transactions between institutions and entities. The Fed adopted a Dodd-Frank final rule implementing certain risk-management standards for systemically important FMUs in July 2012. As planned, the agency is now seeking to amend its requirements in light of benchmarks established by international standard setters shortly before that rule was finalized. Read on to learn about the Fed’s new proposals. Read on »

A group of industry associations asked the Commodity Futures Trading Commission for additional time to comply with some new Dodd-Frank swaps requirements scheduled to take effect this fall. Read on to learn about their implementation concerns. Read on »

The Commodity Futures Trading Commission approved final rules the agency said will enhance U.S. financial stability by establishing enhanced risk management standards for certain systemically important entities that provide derivatives clearing services. Read on to learn about the new requirements for systemically important derivatives clearing organizations. Read on »

The Securities Exchange Commission published its examination priorities for 2013, which cover a wide range of issues at financial institutions, including broker-dealers, clearing agencies, exchanges and self-regulatory organizations, investment companies, hedge funds and private equity funds and transfer agents. Read on to learn about the SEC’s Dodd-Frank Act-related examination plans. Read on »

The Federal Reserve is seeking comment on a proposed rule setting forth the conditions and requirements for a Federal Reserve Bank to open and maintain accounts for systemically important financial market utilities. In addition, the proposed rule would authorize a Reserve Bank to pay interest on the balances maintained by a designated FMU. Read on for the details. Read on »