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Showing posts with the label FRB | Press Release

FRB | Press Release - April 7, 2014: Federal Reserve Board will give banking entities two additional one-year extensions to conform their ownership interests in and sponsorship of certain collateralized loan obligations covered by the Volcker rule

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Press Release Release Date: April 7, 2014 For immediate release The Federal Reserve Board announced today that it intends to exercise its authority to give banking entities two additional one-year extensions to conform their ownership interests in and sponsorship of certain collateralized loan obligations (CLOs) covered by section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, commonly referred to as the Volcker rule. CLOs are securitization vehicles backed predominantly by commercial loans. Section 619 generally prohibits insured depository institutions and any company affiliated with an insured depository institution from engaging in proprietary trading and from acquiring or retaining ownership interests in, sponsoring, or having certain relationships with a hedge fund or private equity fund. These prohibitions are subject to a number of statutory exemptions, restrictions, and definitions. Section 619 of the Dodd-Frank Act directed the Board to a

FRB | Press Release - March 24, 2014: The Federal Reserve on Monday issued full corrected results for the 2014 Dodd-Frank Act stress test.

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Press Release Release Date: March 24, 2014 For immediate release The Federal Reserve on Monday issued full corrected results for the 2014 Dodd-Frank Act stress test. As announced on Friday, the Federal Reserve adjusted the stress test results to address inconsistencies in the treatment of the fourth quarter 2013 actual capital actions and assumptions about preferred and employee compensation-related issuance over the course of the planning horizon. Dodd-Frank Act Stress Test 2014: Supervisory Stress Test Methodology and Results (PDF) For media inquiries, call 202-452-2955. 2014 Banking and Consumer Regulatory Policy   Last update: March 24, 2014

FRB | Press Release February 12, 2014: Federal Reserve seeks comment on repealing its Regulations DD and P and amending Regulation V.

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Press Release Release Date: February 12, 2014 For immediate release The Federal Reserve Board on Wednesday requested comment on proposals to repeal its Regulation DD (Truth in Savings) and Regulation P (Privacy of Consumer Financial Information) and to make amendments to the Identity Theft Red Flags rule in Regulation V (Fair Credit Reporting). Title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) transferred rulemaking authority for a number of consumer financial protection laws from the Board to the Bureau of Consumer Financial Protection (CFPB), except with respect to certain motor vehicle dealers. Because the CFPB has already issued interim final rules that are substantially identical to the Board's Regulation DD and Regulation P, the Board is proposing to repeal its versions of those regulations. The Board is also seeking comment on a proposed amendment to provisions of the Board's Regulation V that require financial inst