The FDIC final rule restricting cancellation rights for certain qualified financial contracts was published in the Federal Register.
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The FDIC reminded financial institutions of a proposed rulemaking that would shorten the standard settlement cycle from T+3 to T+2 for securities sold and purchased by banks.
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.
The FDIC outlined important steps for banks to take to prepare for the forthcoming change to the standard settlement cycle. The new cycle is slated to become effective on September 5, 2017.
The Office of the Comptroller of the Currency provided banks with guidance on the forthcoming transition to a T+2 standard settlement cycle for securities transactions.