The Federal Reserve Board adopted final amendments for determining whether, under the Bank Holding Company Act and the Home Owners' Loan Act, a company has the ability to exercise a controlling influence on another company.
The American Banking Association, SIFMA and the Institute of International Bankers proposed revisions to a Federal Reserve Board proposal to modify its regulations for determining "whether a company has the ability to exercise a controlling influence" on another company.
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.
The Office of the Comptroller of the Currency updated the following booklets of the Comptroller's Handbook: "Bank Premises and Equipment," "Consigned Items and Other Customer Services," and "Litigation and Other Legal Matters."
The FDIC adopted a final rule that will rescind regulations concerning the fiduciary powers of state savings associations and amend regulations regarding consent requirements for the exercise of trust powers.
The Democratic staff of the House Financial Services Committee, citing Republican efforts to repeal the Consumer Financial Protection Bureau arbitration rule, criticized efforts to "functionally terminate" the agency.