The Board of Governors of the Federal Reserve adopted new operational risk management requirements for systemically important designated clearing organizations.
News & Insights
House Financial Services Committee Chair Patrick McHenry (R-NC) and a bipartisan group of legislators asked banking regulators to clarify "through guidance and other actions" that an SEC Staff Accounting Bulletin, which describes how a custodian must account for digital assets, is not enforceable.
The Federal Reserve Board, the FDIC and the OCC issued final guidance for banking organizations on managing the risks associated with third-party relationships.
The OCC, Federal Reserve Board, FDIC and National Credit Union Administration revised an interagency policy statement on allowances for credit losses. The revisions were in response to amendments the Financial Accounting Standards Board made to GAAP accounting standards on the topic in March, 2022.
The New York Department of Financial Services adopted a final regulation implementing an approach to assessing costs and expenses of individuals who are regulated by the NYDFS and engage in "virtual currency business activity."