“More than five years after the financial crisis, there is still an open debate about what it would mean to have a financial sector that works for the benefit of the real economy, and how close we are to achieving that. In An Unfinished Mission: Making Wall Street Work For Us, Americans for Financial Reform and the Roosevelt Institute… Continue Reading
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Search Results for: Dodd-Frank
PWC – Stress testing: Failures on the horizon?
“On November 1, 2013, the Federal Reserve Board of Governors (“Fed”), along with the Office of the Comptroller of the Currency, released documents pertaining to the capital stress testing requirements under the Dodd-Frank Act. One set of documents contained the stress test macroeconomic scenarios (i.e., baseline, severe, and severely adverse) and instructions that outline the… Continue Reading
Uniform Agreement on the Classification and Appraisal of Securities Held by Financial Institutions
Financial Institution Letter – FIL-51-2013 – October 29, 2013: “The FDIC and the other federal banking agencies are issuing the attached joint statement to update and revise the 2004 Uniform Agreement on the Classification of Assets and Appraisal of Securities Held by Banks and Thrifts (2004 Agreement). The statement reiterates the importance of a robust investment analysis process and the… Continue Reading
Federal Regulators Provide Guidance on Qualified Mortgage Fair Lending Risks
News release: “Five federal regulatory agencies today issued a statement to address industry questions about fair lending risks associated with offering only Qualified Mortgages. Creditors have asked for clarity regarding whether the disparate impact doctrine of the Equal Credit Opportunity Act (ECOA) and its implementing regulation, Regulation B, allows them to originate only Qualified Mortgages.… Continue Reading
Banks Use Analytics to Detect Suspect Employee Behavior
Penny Crosman, BankThink/American Banker: “Ten large U.S. and European banks are using natural language processing technology from Digital Reasoning — one of Bank Technology News’ ‘Top Ten Tech Companies to Watch for 2012′ — to uncover such revealing documents before lawyers and examiners do. The company launched six Proactive Compliance analytics products six months ago.… Continue Reading
OFR Report – Asset Management and Financial Stability
“The OFR delivered this report, Asset Management and Financial Stability, to the Financial Stability Oversight Council (Council) on ways that activities in the asset management industry could pose risks to the financial stability of the United States by creating, amplifying, or transmitting stress through the financial system. The OFR studied the activities of asset management firms and… Continue Reading
Federal Reserve Board issues interim final rules clarifying how companies should incorporate Basel III reforms into capital and business projections
News release: “The Federal Reserve Board on Tuesday issued two interim final rules that clarify how companies should incorporate the Basel III regulatory capital reforms into their capital and business projections during the next cycle of capital plan submissions and stress tests. Rules to implement the Basel III capital reforms in the United States were… Continue Reading
FSOC Identifies Prudential As Non-Bank SIFI
“Prudential Financial, Inc. confirmed today that it has been notified by the Financial Stability Oversight Council (FSOC) that the company has been designated a systemically important financial institution by a final vote. Under the Dodd-Frank Wall Street Reform and Consumer Protection Act, Prudential has 30 days to consider its response to FSOC’s determination.” American Banker… Continue Reading
Dodd – Frank Progress Report September 2013
State of Play to Date – DavisPolk Regulatory Tracker Since July 15, 2013, one rulemaking requirement deadline passed, two rulemaking requirements were finalized and no new rules were proposed to meet rulemaking requirements. As of September 3, 2013, a total of 280 Dodd-Frank rulemaking requirement deadlines have passed. This is 70.4% of the 398 total… Continue Reading
Agencies revise proposed risk retention rule
“Six federal agencies on Wednesday issued a notice revising a proposed rule requiring sponsors of securitization transactions to retain risk in those transactions. The new proposal revises a proposed rule the agencies issued in 2011 to implement the risk retention requirement in the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). This proposal… Continue Reading
Executive Excess 2013: Bailed Out, Booted, and Busted
“This 20th anniversary Executive Excess report examines the “performance” of the 241 corporate chief executives who have ranked among America’s 25 highest-paid CEOs in one or more of the past 20 years. The lavishly compensated CEOs we spotlight here should be exemplars of value-added performance. After all, sky-high CEO pay purportedly reflects the superior value that elite chief executives… Continue Reading
Fed to Collect $440M in Large Financial Regulatory Supervision Fees
News release: “The Federal Reserve Board on [August 166, 2013] issued a final rule establishing annual assessment fees for its supervision and regulation of large financial companies. The Dodd-Frank Wall Street Reform and Consumer Protection Act directs the Board to collect assessment fees equal to the expenses it estimates are necessary or appropriate to supervise… Continue Reading
