The Federal Reserve Board, Office of the Comptroller of the Currency and FDIC final rule to modify the agencies' liquidity coverage ratio rule was published in the Federal Register.
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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 Office of the Comptroller of the Currency, the Federal Reserve Board and the FDIC amended the liquidity coverage ratio rule to treat liquid and readily marketable, investment-grade municipal obligations as high-quality liquid assets.
The Office of the Comptroller of the Currency published a revised "Municipal Securities Rulemaking Board Rules" booklet of the Comptroller's Handbook.
The U.S. House of Representatives passed a bill to expand the ability of banks to treat municipal securities as high-quality liquid assets.