Featured Product

    FED Extends Information Collection on Structured Finance Activities

    September 11, 2019

    FED extended for three years, without revision, the recordkeeping provisions associated with the Interagency Statement on complex structured finance activities. No required reporting forms are associated with the recordkeeping provisions that are part of the information collection FR 4022. The final notice for this extension was published in the Federal Register on August 13, 2019. FED also published the updated OMB supporting statement (OMB No. 7100-0311) for these recordkeeping provisions.

    This annual information collection is relevant for state member banks, bank holding companies (other than foreign banking organizations), savings and loan holding companies, and U.S. branches and agencies of foreign banks, with the estimated number of respondents being 18. The guidance associated with these recordkeeping provisions provides that these FED-supervised institutions should establish and maintain policies and procedures for identifying, evaluating, assessing, documenting, and controlling risks associated with certain complex structured finance transactions. These policies and procedures should address the full range of credit, market, operational, legal, and reputational risks associated with such transactions. The guidance states that supervised entities should provide sufficient information and convey reports to the institution's management and board of directors concerning elevated risks from the complex structured finance transactions. A financial institution operating in foreign jurisdictions may tailor its policies and procedures as appropriate to account for, and comply with, the applicable laws, regulations, and standards of those jurisdictions.

    FED, on May 15, 2019, had published an initial notice in the Federal Register requesting public comment for 60 days on the extension, without revision, of the information collection FR 4022. The comment period for this notice had expired on July 15, 2019 and FED did not receive any comments. The published OMB Statement includes a number of collections of information, each of which is voluntary.

     

    Related Links

    Keywords: Americas, US, Banking, Information Collection, Structured Finance, FR 4022, FED

    Related Articles
    News

    HKMA Consults on Supervisory Policy for OTC Derivatives Transactions

    HKMA is consulting on revisions to the Supervisory Policy Manual module CR-G-14 on margin and other risk mitigation standards for non-centrally cleared over-the-counter (OTC) derivatives transactions.

    May 25, 2020 WebPage Regulatory News
    News

    PRA on Regulatory Capital and IFRS 9 Requirements for Payment Holidays

    PRA provided further information on the application of regulatory capital and IFRS 9 requirements to payment holidays granted or extended to address the challenges arising from COVID-19 outbreak.

    May 22, 2020 WebPage Regulatory News
    News

    HKMA on Fintech Adoption and Innovation by Banks in Hong Kong

    HKMA announced the publication of a report on fintech adoption and innovation in the banking industry in Hong Kong.

    May 20, 2020 WebPage Regulatory News
    News

    BIS on Impact of Increasing Use of Cloud Technology on Cyber Risk

    BIS published a working paper that examines the drivers of cyber risk, especially in context of the cloud services.

    May 20, 2020 WebPage Regulatory News
    News

    ECB Consults on Guide for Managing Climate and Environmental Risks

    ECB launched consultation on a guide specifying how the Banking Supervision expects banks to consider climate-related and environmental risks in their governance and risk management frameworks and when formulating and implementing their business strategy.

    May 20, 2020 WebPage Regulatory News
    News

    ECB Issues Opinion on Revisions to CRR in Response to COVID Crisis

    ECB published an opinion (CON/2020/16) on amendments to the prudential framework in EU in response to the COVID-19 pandemic.

    May 20, 2020 WebPage Regulatory News
    News

    EBA Assesses Interlinkages Between Recovery and Resolution Planning

    EBA published a report that examines the interlinkages between recovery and resolution planning under the Bank Recovery and Resolution Directive (BRRD).

    May 20, 2020 WebPage Regulatory News
    News

    SRB Publishes Final MREL Policy Under the Banking Package

    SRB published the final Minimum Requirements for Own Funds and Eligible Liabilities (MREL) policy under the Banking Package.

    May 20, 2020 WebPage Regulatory News
    News

    US Agencies Amend Interim Final Rule on Transition Period for CECL

    US Agencies (FDIC, FED, and OCC) published a final rule that makes technical changes to the March 31, 2020 interim final rule that provides a five-year transition period for the impact of the current expected credit loss (CECL) methodology on regulatory capital.

    May 19, 2020 WebPage Regulatory News
    News

    ECB Releases Results of March Survey on Credit Terms and Conditions

    ECB published results of the March 2020 survey on credit terms and conditions in euro-denominated securities financing and over-the-counter (OTC) derivatives markets.

    May 19, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 5208