On November 1, 2023, the New York State Department of Financial Services (“NYDFS”) issued its Second Amendment (the “Amendment”) to its Cybersecurity Requirements for Financial Services Companies adopted in 2017, codified in...more
On August 29, 2023, the U.S. federal banking regulators issued a proposal that would establish a long-term debt (LTD) requirement for large U.S. banking organizations with $100 billion or more in total assets that are not...more
On Friday, April 28, 2023, the Federal Deposit Insurance Corporation (“FDIC”) released a report titled “FDIC’s Supervision of Signature Bank” (the “Report”) providing its assessment of the failure of Signature Bank (“SBNY” or...more
The Federal Reserve released a detailed report on the supervision and regulation of the former Silicon Valley Bank (SVB). The report, released along with a trove of confidential supervisory information pertaining to SVB,...more
The recent closures of Silicon Valley Bank and Signature Bank—the second and third largest bank failures in U.S. history—have raised a myriad of questions amongst borrowers and other counterparties as to the contractual...more
Following the recent Russian invasion of Ukraine, many countries, including the United States, the United Kingdom and member states of the European Union, have imposed a coordinated series of sanctions unprecedented in scope...more
3/30/2022
/ Credit Agreements ,
Economic Sanctions ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
Lenders ,
Proposed Regulation ,
Russia ,
Sanctions ,
UK ,
Ukraine
On March 9, 2022, President Biden signed an Executive Order on Ensuring Responsible Development of Digital Assets. According to an accompanying fact sheet, it is the “first ever, whole-of-government approach” to regulating...more