FDIC Chair Jelena McWilliams urged the Financial Accounting Standards Board to delay the implementation of an accounting standards update in order to allow banks to focus on addressing the impact of COVID-19.
U.S. Representatives Carolyn B. Maloney (D-NY) and Patrick McHenry (R-NC) introduced a bill that would require all eight U.S. financial regulators to enact a set of data collection and dispersion standards for reported information.
The Federal Reserve Board, FDIC and Office of the Comptroller of the Currency rule release, adopting rules to reduce reporting requirements for eligible small depository institutions, was published in the Federal Register.
The FDIC will rescind and remove certain rules requiring the disclosure of financial and other information by FDIC-insured state nonmember banks. The final rule will become effective on April 17, 2019.
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.
Financial regulators adopted a final rule to provide banking organizations the option to "phase in over a three-year period the day-one" regulatory capital effects of the "Current Expected Credit Losses" methodology.
The Federal Reserve Board, the FDIC and the Office of the Comptroller of the Currency proposal to reduce regulatory reporting requirements for eligible small depository institutions was published in the Federal Register.
Banking regulators proposed revisions to the Consolidated Reports of Condition and Income in response to changes in accounting for credit losses under the Federal Financial Accounting Standards Board's Accounting Standards Update.
The FDIC-proposed rule that would allow certain insured depository institutions to be exempt from the requirement to treat reciprocal deposits as brokerage deposits was published in the Federal Register.
The Office of the Comptroller of the Currency, the FDIC and the Board of Governors of the Federal Reserve System requested comments on amendments to the bank capital rules to incorporate revised financial accounting standards for credit losses.