In a newly published consultative document, the Bank for International Settlements Basel Committee on Banking Supervision proposed several "limited adjustments" to the credit valuation adjustment risk framework.
The Federal Reserve Board solicited feedback on whether to amend regulations on reserve requirements to lower the rate of interest paid on excessive balances maintained at FRB banks by eligible institutions.
U.S. "prudential regulators" adopted amendments to uncleared swap margin requirements. The amendments clarify that "legacy" swaps remain out of scope for margin rules if the trades are amended solely to comply with the new "QFC Rules."
Federal Reserve Bank of New York President William C. Dudley argued that "aggressive action" is needed across the financial industry to address market-wide issues concerning the global market transition away from LIBOR.
The Secretary of the Treasury extended the compliance dates for regulations implementing qualified financial contract recordkeeping requirements for certain non-bank financial companies that may pose systemic risk.
The Secretary of the Treasury proposed extending the compliance date for regulations implementing qualified financial contract recordkeeping requirements of certain non-bank financial companies that may pose systemic risk.