Treasury announced that, after the necessary consultation with the FDIC and the SEC, it is providing a retail broker-dealer with a conditional exemption from certain Dodd-Frank recordkeeping requirements for certain of its qualified financial contracts.
Federal banking agencies provided information and guidance on the use of the two-quarter grace period under the optional community bank leverage ratio framework once temporary relief measures expire on December 31, 2021.
In its 2021 Annual Report, the Financial Stability Oversight Council assessed the state of the financial system and provided recommendations concerning climate-related financial risk, digital asset risk, the orderly transition away from LIBOR, and cybersecurity.
The FDIC refuted a joint statement made by CFPB Director Rohit Chopra and FDIC Board member Martin J. Gruenberg that the FDIC Board had approved a request for information and comment on bank merger transaction rules, guidance and statements.
In a supervision and regulation letter to institutions that have large derivatives portfolios and relationships with investment funds, the Federal Reserve Board reiterated previously issued expectations as to large banks' counterparty credit risk management and margin practices.