The OCC, the Federal Reserve Board and the FDIC proposed long-term debt requirements for large banking entities, holding companies, foreign banking organizations and large insured depository institutions to facilitate resolvability in the event of failure and to reduce the risk of contagion within the financial system.
Commentary by Sebastian Souchet
The Federal Reserve Board, OCC and FDIC jointly proposed amendments that would "substantially" revise capital requirements for large banking organizations to be consistent with international capital standards issued by the Basel Committee on Banking Supervision.
The Federal Reserve Board, FDIC, OCC and National Credit Union Administration advised depository institutions to take steps to ensure access to contingency funding under a range of possible stress scenarios.
Banking agencies set a comment deadline of September 19, 2023 for proposed risk management guidance concerning "reconsiderations of value" in real estate transactions.
A banking entity settled charges with the OCC and the CFPB for assessing multiple overdraft fees on customers’ accounts. The banking entity also settled charges with the CFPB for withholding credit card rewards from consumers and opening accounts without consumers' consent.