The Federal Deposit Insurance Corporation ("FDIC") announced that it will meet in open session on January 21, 2015 to discuss matters regarding regulatory capital rules, liquidity coverage ratio and proposed revisions to the definition of "qualifying master netting agreement" and related definitions. See: FDIC Summary Agenda and Discussion Agenda.

The Federal Deposit Insurance Corporation ("FDIC") announced the appointment of Charles Yi as its new general counsel. S ee: Press Release.

The Federal Deposit Insurance Corporation ("FDIC") and the Board of Governors of the Federal Reserve System made available public portions of resolution plans for certain financial institutions. The companies that were required to submit initial plans by December 31, 2014 were those that individually had less than $100 billion in qualifying non-bank assets. Each plan, commonly known as a "living will," must describe the company's strategy for rapid and orderly resolution under the U.S. Bankruptcy Code in the event of material financial distress or failure of the company. These plans must

SEC Commissioner Gallagher discussed the current global and domestic state of capital markets and the ways in which the U.S. can maintain competitive capital markets. According to Commissioner Gallagher, the United States is at risk of losing its status as the world's capital markets leader. Too often, he explained, legislators and regulators are "laying on regulation after regulation" instead of thinking creatively about ways to promote capital formation. He stated that it is imperative for policymakers to question the "over regulation" that the U.S. inherited from the financial crisis and

Yesterday, the U.S. House of Representatives passed H.R. 37, the Promoting Job Creation and Reducing Small Business Burdens Act, in a 271 to 154 vote. Section 801 of H.R. 37 would extend the Volcker Rule conformance date with respect to collateralized loan obligations for an additional two years, until July 21, 2019. The text of H.R. 37, as passed by the House, is available here. See: H.R. 37. Related news: Committee on Rules for U.S. House of Representatives to Consider Regulatory Reform (with Lofchie Comment) (January 8, 2015).