Featured Product

    US Agencies Correct Errors in Regulation on Amendments to Volcker Rule

    August 06, 2019

    US Agencies (CFTC, FDIC, FED, and SEC) published a notice in the Federal Register to correct errors in the "amendatory instructions" to the final rule excluding community banks from Section 13 of the Bank Holding Company Act (Volcker Rule). The corrections become effective from August 06, 2019. The final rule (which is being corrected) excludes, from the Volcker Rule, community banks with USD 10 billion or less in total consolidated assets and total trading assets and liabilities of 5% or less of total consolidated assets. US Agencies had adopted this final rule, on July 22, 2019, to amend regulations implementing the Volcker Rule in a manner consistent with the statutory amendments made pursuant to certain sections of the Economic Growth, Regulatory Relief, and Consumer Protection (EGRRCP) Act.

    In the final rule FR Doc. 2019-15019, beginning on page 35020, the following corrections have been made:

    • On page 35020, in the third column, correct amendatory instruction 11 to read as—“11. Revise paragraph (a)(6) to read as follows:”
    • On page 35021, in the second column, correct amendatory instruction 16 to read as—“16. Revise paragraph (a)(6) to read as follows:”
    • On page 35022, in the first column, correct amendatory instruction 21 to read as—“21. Revise paragraph (a)(6) to read as follows:”
    • On page 35022, in the second column, correct amendatory instruction 26 to read as—“26. Revise paragraph (a)(6) to read as follows:”

     

    Related Links

    Effective Date: August 06, 2019

    Keywords: Americas, US, Banking, Securities, EGRRCP Act, Community Banks, Volcker Rule, BHC Act, Corrigendum, US Agencies

    Featured Experts
    Related Articles
    News

    EBA Publishes Phase 2 of Technical Package on Reporting Framework 2.10

    EBA published phase 2 of the technical package on the reporting framework 2.10, providing the technical tools and specifications for implementation of EBA reporting requirements.

    July 10, 2020 WebPage Regulatory News
    News

    FASB Proposes to Delay Implementation of Insurance Contracts Standard

    FASB issued a proposed Accounting Standards Update that would grant insurance companies, adversely affected by the COVID-19 pandemic, an additional year to implement the Accounting Standards Update No. 2018-12 on targeted improvements to accounting for long-duration insurance contracts, or LDTI (Topic 944).

    July 09, 2020 WebPage Regulatory News
    News

    APRA Updates Regulatory Approach to Loan Deferrals Amid COVID Crisis

    APRA updated the regulatory approach for loans subject to repayment deferrals amid the COVID-19 crisis.

    July 09, 2020 WebPage Regulatory News
    News

    BCBS and FSB Set Out Recommendations for Benchmark Transition

    BCBS and FSB published a report on supervisory issues associated with benchmark transition.

    July 09, 2020 WebPage Regulatory News
    News

    IAIS Sets Out Recommendations for Benchmark Transition for Insurers

    IAIS published a report on supervisory issues associated with benchmark transition from an insurance perspective.

    July 09, 2020 WebPage Regulatory News
    News

    ESMA Updates Reporting Manual on European Single Electronic Format

    ESMA updated the reporting manual on the European Single Electronic Format (ESEF).

    July 09, 2020 WebPage Regulatory News
    News

    EBA Calls on Resolution Authorities to Consider Impact of COVID Crisis

    EBA published a statement on resolution planning in light of the COVID-19 pandemic.

    July 09, 2020 WebPage Regulatory News
    News

    BCBS Finalizes Revisions to Credit Valuation Adjustment Risk Framework

    BCBS Finalizes Revisions to Credit Valuation Adjustment Risk Framework

    July 08, 2020 WebPage Regulatory News
    News

    ECB Guideline on Materiality Threshold for Credit Obligations Past Due

    ECB published a guideline (2020/97), in the Official Journal of European Union, on the definition of materiality threshold for credit obligations past due for less significant institutions.

    July 08, 2020 WebPage Regulatory News
    News

    FED Temporarily Revises FR Y-14 With Respect to PPP and CARES Act

    FED temporarily revised the capital assessments and stress testing reports (FR Y-14A/Q/M) to implement the changes in response to the COVID-19 pandemic.

    July 08, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 5458