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.
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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.
In an address to the 2023 Institute of International Bankers Annual Washington Conference, Acting Comptroller of the Currency Michael J. Hsu highlighted parallels between jurisdictional and "supervisability" risk in global banking and in crypto.
The Federal Reserve Board, the FDIC and the OCC cautioned that banks may face significant liquidity risks in relying on funding from entities in the crypto industry.
The Federal Reserve Board, the FDIC and the OCC extended previously issued no-action relief to asset managers and other institutions from regulations that limit extensions of credit to "insiders."