A foreign banking organization settled charges with the Federal Reserve Board for failing to address known risks associated with a client investor that had an “increasingly concentrated [total return swaps] portfolio.”
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President Joseph R. Biden nominated individuals for open positions on the Federal Reserve Board.
The Federal Reserve Board compiled FAQs on existing interpretations from Orders, rulemakings, letters to institutions and other written and verbal guidance.
An article on the effective date for the Federal Reserve Board, OCC and FDIC joint final rule increasing the major asset prohibition thresholds for the management interlock rule misstated the effective date as October 9, 2019. The correct effective date is October 10, 2019.
The Office of the Comptroller of the Currency, Federal Reserve Board and FDIC joint final rule to increase the major asset prohibition thresholds for management interlock rule was published in the Federal Register.