The Office of the Comptroller of the Currency and the FDIC issued a final rule that will shorten the standard settlement cycle for securities transactions from T+3 to T+2.
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The Office of the Comptroller of the Currency and the FDIC filed a proposed rule change that would shorten the standard settlement cycle for securities sold and purchased by banks.
Federal Reserve Bank of New York President William C. Dudley argued that "aggressive action" is needed across the financial industry to address market-wide issues concerning the global market transition away from LIBOR.
The Federal Reserve Board proposed expanding the number of financial institutions that fall under the "netting" provisions of the Federal Deposit Insurance Corporation Improvement Act of 1991.
Federal Reserve Bank of New York Senior Vice President Lorie Logan discussed the future of the London Interbank Offered Rate and efforts to administer and produce more effective reference rates.