We use cookies to give you the best online experience. By using our website you agree to our use of cookies in accordance with our cookie policy. Learn more here.Close Me
United States: US Board Of Governors Of The Federal Reserve System Finalizes Regulatory Reporting Requirements For Intermediate Holding Companies Of Foreign Banking Organizations
On June 1, 2016, the US Board of Governors of the Federal
Reserve System adopted a proposal to extend various regulatory
reporting requirements to US intermediate holding company (IHC)
subsidiaries of foreign banking organizations. The final reporting
requirements are generally the same as the proposal, with a few
adjustments and clarifications. Under the final requirements, the
Federal Reserve noted that it will consider requests to modify the
financial data for previous years that an IHC would be required to
report, or extend the time period by which an IHC would have to
report the historical data on the applicable Form FR Y-14. The FR
Y-14 series of reports generally collects data for stress-testing
purposes. The Federal Reserve Board also clarified that it is not
requiring at this time that the FR Y-14 attestation requirement
apply to IHC subsidiaries of US bank holding companies subject to
the Large Institution Supervision Coordinating Committee. The
Federal Reserve Board also extends the IHC's first filing date
of the FR Y-15 form to December 5, 2016 to allow institutions time
to facilitate accurate reporting.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
To print this article, all you need is to be registered on Mondaq.com.
Click to Login as an existing user or Register so you can print this article.
New regulations approved by the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corp. will fundamentally change the playing field for end users or buy-side counterparties ...
FinCEN made technical changes to a final rule relating to customer due diligence standards for banks, brokers or dealers in securities, mutual funds, futures commission merchants...
Overseas Shipping Group ("Overseas") recently sued its former attorneys, a prominent New York-based law firm, for legal malpractice in drafting credit agreements that resulted in the company incurring an estimated $463 million in tax liability.
On September 21, the Department of Justice cleared the way for a group of the twenty-four largest U.S. banks to create a real-time payment system that will permit immediate transfer of funds...
On September 20, the Consumer Financial Protection Bureau issued proposed policy guidance that would modify a mortgage disclosure law in an effort to protect applicants' and borrowers' privacy.
The Consumer Financial Protection Bureau ("CFPB") adopted its "Payday, Vehicle Title, and Certain High-Cost Installment Loans" rule, which is intended to eliminate "Payday Debt Traps"...
Beginning on October 1, 2017, all investment advisers filing Form ADV must use an amended version of Part 1A of the Form that contains several new and revised items.
Register for Access and our Free Biweekly Alert for
This service is completely free. Access 250,000 archived articles from 100+ countries and get a personalised email twice a week covering developments (and yes, our lawyers like to think you’ve read our Disclaimer).
Mine Financing In 2017 - Video
