The President’s Working Group on Financial Markets (PWG), joined by the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency (OCC), released a Report on Stablecoins (Report) on November 1,...more
The Office of the Comptroller of the Currency published an interpretive letter on September 21, 2020 (Letter), confirming that national banks and federal savings associations (together, banks) may hold “stablecoin” reserves...more
The Office of the Comptroller of the Currency (OCC) issued an interpretive letter (Letter) on July 22, 2020, stating that national banks and federal savings associations have the authority to provide custody services for...more
The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System (Board), the Federal Deposit Insurance Corporation, the Securities and Exchange Commission and the Commodity Futures Trading...more
7/21/2020
/ Amended Regulation ,
CFTC ,
Covered Funds ,
Credit Funds ,
Exclusions ,
FDIC ,
Federal Reserve ,
Financial Regulatory Agencies ,
Foreign Excluded Funds ,
Investment Schemes ,
OCC ,
Ownership Interest ,
Securities and Exchange Commission (SEC) ,
Securitization ,
Venture Capital ,
Volcker Rule ,
Wealth Management
In an effort to address the uncertainty created by the U.S. Second Circuit Court of Appeal’s holding in Madden v. Midland Funding, on May 29, 2020, the Office of the Comptroller of the Currency (OCC) adopted a final rule...more
Several federal agencies have announced various measures to help the United States respond to the economic dislocations from the COVID-19 coronavirus pandemic. This Dechert OnPoint summarizes several significant initiatives...more
3/31/2020
/ Banks ,
Capital Requirements ,
CARES Act ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
FDIC ,
Federal Reserve ,
Financial Institutions ,
Financial Regulatory Agencies ,
Liquidity ,
Money Market Funds ,
Mortgage-Backed Securities ,
OCC ,
Primary Dealer Credit Facility (PDCF) ,
Relief Measures ,
SBA ,
Term Asset-Backed Securities Loan Facility (TALF)
The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (Federal Banking Agencies) on December 27, 2019 provided temporary relief from...more
2/10/2020
/ Bank Holding Company ,
Banks ,
Board of Directors ,
Compliance ,
Credit Extension ,
FDIC ,
Federal Bank Regulatory Agencies ,
Federal Reserve ,
Fund Management Companies ,
Insider Information ,
Investment Adviser ,
Investment Funds ,
Loans ,
OCC ,
Portfolio Companies ,
Regulation O ,
Relief Measures ,
Voting Shares
With the hope of finally addressing the uncertainty created by the U.S. Second Circuit Court of Appeal’s holding in Madden v. Midland Funding,1 the Office of the Comptroller of the Currency (OCC) and the Federal Deposit...more
12/19/2019
/ Assignments ,
Consumer Credit Protection ,
FDIC ,
Financial Regulatory Agencies ,
Financial Services Industry ,
Interest Payments ,
Loan Origination Funds ,
Madden v Midland Funding ,
National Bank Act ,
Non-Bank Lenders ,
OCC ,
Partnership Agreements ,
Preemption ,
Proposed Rules ,
Public Comment ,
Usury
As the general conformance period for banking entities to comply fully with Section 13 of the U.S. Bank Holding Company Act (Volcker Rule) and its implementing regulations (Volcker Regulations) ended on July 21, 2017, two...more