This week, the Senate Banking Committee and the House Financial Services Committee held oversight hearings with leaders of the Federal Deposit Insurance Corporation (“FDIC”), Federal Reserve Board (“FRB”), the National Credit...more
11/17/2023
/ Banks ,
Basel III ,
Depository Institutions ,
FDIC ,
Financial Regulatory Agencies ,
Financial Services Committee ,
Financial Services Industry ,
FRB ,
NCUA ,
OCC ,
Regulatory Oversight ,
Senate Banking Committee
On Tuesday, the Federal Deposit Insurance Corporation (“FDIC”), the Federal Reserve Board (“FRB”) and the Office of the Comptroller of the Currency (“OCC”) (together, the “Agencies”) issued a final rule to amend and update...more
On September 28, the Federal Reserve Board (“FRB”) posted three new FAQs to its website regarding Regulation Q (Capital Adequacy of Bank Holding Companies, Savings and Loan Holding Companies, and State Member Banks). The FAQ...more
Recently, the Federal Deposit Insurance Corporation (“FDIC”) released its annual Summary of Deposits (“SOD”) data, as of June 2023.
The annual SOD data is the result of the FDIC’s annual survey of branch office deposits...more
On Wednesday, Federal Deposit Insurance Corporation (“FDIC”) Chair Martin Gruenberg gave remarks to the Exchequer Club of Washington on the financial stability risks of nonbank financial institutions....more
Recently, the Federal Deposit Insurance Corporation (“FDIC”) issued a report from its Chief Risk Officer entitled FDIC’s Supervision of First Republic Bank. The FDIC was First Republic Bank’s primary federal banking agency,...more
9/19/2023
/ Banking Crisis ,
Banks ,
Depository Institutions ,
FDIC ,
Financial Institutions ,
Interest Rates ,
Liquidity ,
Receivership ,
Risk Management ,
Silicon Valley ,
Supervisory Highlights
As we covered previously, on July 27, 2023, the U.S. prudential bank regulators (the Federal Deposit Insurance Corporation (“FDIC”), the Federal Reserve Board (“FRB”) and the Office of the Comptroller of the Currency (“OCC”)...more
In addition to approving the long-term debt proposal (“LTD NPR”) we discuss in another article this week, the Federal Deposit Insurance Corporation (“FDIC”) Board had a busy day on Tuesday. As we noted last week, when the...more
The Federal Deposit Insurance Corporation (“FDIC”), Federal Reserve Board (“FRB”) and Office of the Comptroller of the Currency (“OCC”) (together, the “Agencies”) issued a proposed rule (the “LTD NPR”) to require large banks...more
Federal Deposit Insurance Corporation (“FDIC”) gave notice that its Board of Directors will meet next week with the following discussion agenda:
Memorandum and resolution re: Notice of Proposed Rulemaking on Long-term...more
On Monday, Federal Deposit Insurance Corporation (“FDIC”) Chair Martin Gruenberg gave remarks to the Brookings Institution on “The Resolution of Large Regional Banks.” Chair Gruenberg did not say “I told you so” in his...more
On July 27, 2023, the U.S. federal prudential bank regulators (the Federal Deposit Insurance Corporation, the Federal Reserve Board (“FRB”) and the Office of the Comptroller of the Currency) proposed new capital requirements...more
The Federal Deposit Insurance Corporation (“FDIC”) issued a Financial Institution Letter (“FIL”) earlier this week regarding banks’ errors in reporting estimated uninsured deposits....more
On June 30, the Federal Reserve Board (“FRB”), Federal Deposit Insurance Corporation (“FDIC”), Office of the Comptroller of the Currency (“OCC”) and the National Credit Union Administration (“NCUA”) finalized their Policy...more
7/7/2023
/ Banking Sector ,
Commercial Real Estate Market ,
Current Expected Credit Losses (CECL) ,
Debt Restructuring ,
FDIC ,
FRB ,
Interagency Agreement ,
Loans ,
NCUA ,
OCC ,
Policy Statement ,
Regulatory Agencies
Last week, the Office of the Comptroller of the Currency (“OCC”), Federal Reserve Board (“FRB”), Federal Deposit Insurance Corporation (“FDIC”), the National Credit Union Administration (“NCUA”), and the Consumer Financial...more
6/16/2023
/ Consumer Financial Protection Bureau (CFPB) ,
Discrimination ,
Disparate Impact ,
FDIC ,
Financial Services Industry ,
FIRREA ,
FRB ,
Interagency Guidance ,
NCUA ,
OCC ,
Property Valuation ,
Real Estate Market ,
Real Estate Transactions
On June 6, the three Federal bank regulatory agencies (the Federal Reserve Board (“FRB”), Federal Deposit Insurance Corporation (“FDIC”) and Office of the Comptroller of the Currency (“OCC”)), issued final interagency...more
The Federal Deposit Insurance Corporation (“FDIC”) recently issued the latest Quarterly Banking Profile (“QBP”) for the first quarter of 2023.
The headline results of the QBP were...more
Federal Deposit Insurance Corporation (“FDIC”) Chair Martin Gruenberg gave remarks to the Cities for Financial Empowerment Fund 2023 Bank On National Conference recently in which he said that the FDIC “shares the Bank On...more
The Federal Deposit Insurance Corporation (“FDIC”) Board voted (3-2) to propose a special assessment to recoup the expected $15.8 billion cost to the Deposit Insurance Fund “(DIF”) in the wake of invocation of the special...more
5/12/2023
/ Banking Crisis ,
Banks ,
Comment Period ,
Deposit Insurance ,
Depository Institutions ,
FDIC ,
Financial Institutions ,
NPRM ,
Receivership ,
Risk Assessment ,
Silicon Valley
The Office of the Comptroller of the Currency (“OCC”) and the Federal Deposit Insurance Corporation (“FDIC”) (collectively, the “Agencies”) provided supervisory guidance this week on certain overdraft practices. Of particular...more
4/28/2023
/ Consumer Financial Protection Bureau (CFPB) ,
FDIC ,
Federal Reserve ,
Financial Services Industry ,
FRB ,
New Guidance ,
OCC ,
Overdraft Rule ,
UDAAP ,
UDAP ,
Unfair or Deceptive Trade Practices
The Federal Deposit Insurance Corporation (“FDIC”) Board held an open meeting on Tuesday to receive the semiannual update on the Deposit Insurance Fund (“DIF”) Restoration Plan. As we previously wrote last year, the FDIC...more
Federal Deposit Insurance Corporation (“FDIC”) Vice Chair Travis Hill gave a speech earlier this week, titled “Recent Bank Failures and the Path Ahead,” at the Bipartisan Policy Center. The speech appears to be Vice Chair...more
Both the Senate Banking Committee and House Financial Services Committee held hearings this week on the federal regulatory response to the failures of Silicon Valley Bank (“SVB”) and Signature Bank. Witnesses at both hearings...more
3/30/2023
/ Banking Crisis ,
Banks ,
Congressional Investigations & Hearings ,
Deposit Accounts ,
FDIC ,
Financial Institutions ,
Financial Services Committee ,
Financial Services Industry ,
FRB ,
Receivership ,
Regulatory Agenda ,
Senate Banking Committee ,
Silicon Valley
As we have previously discussed, after the failure of Silicon Valley Bank (“SVB”), the FDIC is operating the Silicon Valley Bridge Bank, N.A. (“Bridge Bank”) in many ways as if it’s business as usual to help preserve as much...more
Many of the transactions involving qualified financial contracts (“QFC”) with Silicon Valley Bank (“SVB”) and Signature Bank constitute Commodity Futures Trading Commission (“CFTC”) jurisdictional transactions that may be...more
3/15/2023
/ CFTC ,
Commodities ,
Deposit Accounts ,
Deposit Insurance ,
Depository Institutions ,
Derivatives ,
Enforcement Actions ,
FDIC ,
Financial Institutions ,
Futures ,
Insolvency ,
Qualified Financial Contracts (QFC) ,
Receivership ,
Silicon Valley ,
Swaps