A Federal Reserve Board, OCC and FDIC joint final rule that will limit the interconnectedness of large banks and reduce systemic risk was published in the Federal Register.
News & Insights
The Federal Reserve Board, the FDIC, and the OCC revised the regulatory capital rule in order to limit the interconnectedness of large banks and reduce systemic risk.
The Federal Reserve Board, the Office of the Comptroller of the Currency, the FDIC, the Consumer Financial Protection Bureau, the National Credit Union Administration and the Conference of State Bank Supervisors encouraged financial institutions to work with consumers impacted by the federal government shutdown. The agencies expressed concern that affected borrowers may face hardship with regard to making payments on financial obligations, including mortgages, student loans, car loans, credit cards and other types of debt.
The FDIC adopted a final rule to international banking regulations that replaces references to credit ratings in the definition of "investment grade".
In a Report mandated by the Dodd Frank Act, three federal agencies discussed activities and investments permitted by banking entities, and made recommendations as to how associated risks could best be mitigated by those entities.