On March 5, 2016, the Board of Governors of the US Federal Reserve System (Federal Reserve) re-proposed a rule, originally proposed in 2011, that would implement the single-counterparty credit limits (SCCL) contained in section 165(e) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) (SCCL Proposal).
On January 14, 2016, the Basel Committee on Banking Supervision (BCBS) published a final rule for minimum capital requirements for market risk as a conclusion to the BCBS' fundamental review of the trading book or, as it is commonly known, the FRTB.
On July 16, 2015, a much-anticipated new Volcker Rule Frequently Asked Question was issued regarding the potential "banking entity" status of US registered investment companies and foreign public funds during their respective seeding periods.
US banking regulators (the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency) have issued final joint supplemental guidance (Guidance) regarding tax allocation agreements involving holding companies and their insured depository institution subsidiaries.
On February 18, 2014, the Board of Governors of the Federal Reserve System approved a final rule implementing the enhanced prudential standards contained in section 165 of the Dodd-Frank Wall Street Reform and Consumer Protection Act for US bank holding companies and foreign banking organizations.
As noted in our recent Legal Update, the Final Rule generally adopted the rules for the treatment of securitization exposures under the regulatory capital framework that had been previously proposed5 without significant change, except as noted below.
On June 8, 2012, the Federal Reserve Board (Board) approved three notices of proposed rulemaking (NPRs) that would significantly revise the regulatory capital requirements for all US banking organizations by, among other things, implementing the Basel III capital reforms and incorporating various Dodd-Frank-related capital provisions.
On September 12, 2010, the Group of Governors and Heads of Supervision (Governors)—the oversight body of the Basel Committee on Banking Supervision (Committee)—announced the much-anticipated minimum capital ratios and transition periods that will apply under the "Basel III" package of capital reforms that were proposed in December 2009 and approved by the Governors, with several modifications, in July 2010.