Technical corrections to an OCC, Federal Reserve Board and FDIC standardized approach to calculating the exposure amount of derivative contracts under the "regulatory capital rule'" were published in the Federal Register.
The Division of Clearing and Risk and the Division of Swap Dealer and Intermediary Oversight provided relief and guidance concerning the treatment of separate accounts of a single beneficial owner by futures commission merchants.
The CFTC Division of Swap Dealer and Intermediary Oversight granted no-action relief to a futures commission merchant seeking to to add back to its net worth the amount of deferred tax liabilities "directly related" to intangible assets recognized for GAAP purposes as a result of a non-taxable business combination.
A CFTC final rule establishing minimum capital, liquidity, financial reporting and other related requirements applicable to CFTC-registered swap dealers and major swap participants was published in the Federal Register.
Federal Reserve Bank of New York Executive Vice President Daleep Singh reviewed the actions taken by the Federal Reserve Board to provide emergency credit and liquidity in order to safeguard the economy during the COVID-19 pandemic.
A Federal Reserve working group, made up of government and payments industry experts, developed a uniform fraud classification system to address fraud involving Automated Clearing House, wire, and check payments.