The Federal Reserve Board, FDIC and OCC issued two interim final rules to modify the community bank leverage ratio in order to provide temporary relief under the Coronavirus Aid, Relief and Economic Security Act.
The CFPB, Federal Reserve Board, FDIC, National Credit Union Administration and OCC clarified their compliance expectations for mortgage servicers on consumer communication requirements during the pandemic.
The Investment Adviser Association and North American Administrators Securities Association offered opposing recommendations to the SEC on its proposal to amend the definitions of "accredited investor" and "qualified institutional buyer."
The Federal Reserve Board final rule to (i) simplify the requirements for large banks subject to capital plan rules and (ii) implement a stress capital buffer requirement was published in the Federal Register.
The Federal Reserve Bank of New York, in cooperation with the Treasury Office of Financial Research, began publishing Secured Overnight Financing Rate compound averages for tenors of 30, 90 and 180 days as well as a SOFR Index.