In recent days, other exchanges have likewise extended similar pilot programs. View release in full here (links externally to SEC website).

This is intended to be a class action on behalf of all lending institutions headquartered in the State of New York or with a majority of their operations in the State of New York, that originated, purchased outright, or purchased a participation interest in loans paying interest at rates tied to the US Dollar London Interbank Offered Rate ("LIBOR"). The action alleges that sixteen different banking organizations acted to depress improperly the setting of LIBOR, which resulted in the plaintiff banks collecting less interest on loans that they held. To support the plaintiff's claim of misconduct

Bank for International Settlements July 25, 2012 The Basel Committee on Banking Supervision has issued interim rules on the capitalisation of exposures to central clearing counterparties (CCPs) as a part of Basel II. These rules are expected to come into force in January 2013. CCPs which are supervised under the new CPSS-IOSCO Principles for Financial Market Infrastructures will receive a preferential capital treatment, and in particular trade exposures will receive a nominal risk-weighting of 2%. Banks will also be able to choose between two approaches to determining the capital required for

The FDIC released a list of 48 orders of administrative enforcement actions taken against banks and individuals in June. Among those orders were civil money penalties against five banks for violations of the Flood Disaster Protection Act, including failure to obtain flood insurance on loans secured by property located in flood hazard areas; a civil money penalty for violation of the Real Estate Settlement Procedures Act, where the bank created and operated a company used as a conduit for paying unlawful mortgage loan referral fees; and several consent orders arising from charges of unsafe and

European Commission July 26, 2012 The European Commission has launched a consultation on a future framework for investments funds. Key questions in the consultation focus on (i) the regulation of money market funds, (ii) the fund industry's involvement in securities lend and repo arrangements and (iii) the industry's exposure to OTC derivatives that will become subject to clearing. Responses to the consultation should be submitted by October 18, 2012.