The Office of the Comptroller of the Currency, Federal Reserve System and FDIC adopted final rule amendments to simplify certain aspects of the capital rule for banking organizations that do not use advanced approaches in their capital frameworks.
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The Federal Reserve Board, Office of the Comptroller of the Currency, CFTC, FDIC and SEC adopted final rule amendments to exclude certain firms with consolidated assets equal to or less than $10 billion from the Volcker Rule.
The Federal Reserve Board, the FDIC, FinCEN, the National Credit Union Administration and the OCC clarified customer due diligence requirements for customers that may be "politically exposed persons."
The Federal Reserve Board, the FDIC, FinCEN, the OCC and the Conference of State Bank Supervisors clarified the legal status of hemp and Suspicious Activity Report obligations for banks under the Bank Secrecy Act.
The Board of Governors of the Federal Reserve System and the FDIC extended the annual resolution plan filing deadline for the four foreign banking organizations by one year.