🔒Proposed FinCEN Regulations on Huione Group's Money Laundering Risks
FinCEN is issuing a notice of proposed rulemaking (NPRM), pursuant to section 311 of the USA PATRIOT Act, that proposes prohibiting the opening or maintaining of a correspondent account in the United States for, or on behalf of, Huione Group, a foreign financial institution based in Cambodia found to be of primary money laundering concern. The NPRM also would require covered financial institutions to apply special due diligence to their foreign correspondent accounts that is reasonably designed to guard against their use to process transactions involving Huione Group.
Learn More💼Federal Reserve Proposals on Nonbanking Company Engagement
The Federal Reserve System has issued a notice regarding proposals that permit companies to engage in nonbanking activities under the Bank Holding Company Act. These proposals allow for the acquisition or control of entities involved in specified nonbanking services across the U.S. Interested parties are invited to submit comments on these proposals.
Learn More📊Federal Reserve Board Approves Survey Extension for Financial Institutions
The Board of Governors of the Federal Reserve System (Board) is adopting a proposal to extend for three years, without revision, the Senior Credit Officer Opinion Survey on Dealer Financing Terms (FR 2034; OMB No. 7100-0325).
Learn More🏦Proposed Changes to Regulation CC
The Board of Governors of the Federal Reserve System (Board) invites comment on a proposal to extend for three years, with revision, the Recordkeeping and Disclosure Requirements Associated with Regulation CC (FR CC; OMB No. 7100-0235).
Learn More📈Proposed Recordkeeping Provisions for Leveraged Lending Activities
The Board of Governors of the Federal Reserve System (Board) invites comment on a proposal to extend for three years, without revision, the Recordkeeping Provisions Associated with Guidance on Leveraged Lending (FR 4203; OMB No. 7100-0354).
Learn More🏦Federal Reserve's Notice on Savings and Loan Holding Company Application
The Board of Governors of the Federal Reserve System (Board) is adopting a proposal to extend for three years, without revision, the Application to Become a Savings and Loan Holding Company or to Acquire a Savings Association or Savings and Loan Holding Company (FR LL-10(e); OMB No. 7100-0336).
Learn More🏦FDIC Information Collection Renewal
The FDIC, as part of its obligations under the Paperwork Reduction Act of 1995 (PRA), invites the general public and other Federal agencies to take this opportunity to comment on the renewal of the existing information collections described below (OMB Control No. 3064-0152; -0190 and -0207).
Learn More💰Proposed Changes to Capital Plan Rule and Stress Capital Buffer
The Board is inviting public comment on a notice of proposed rulemaking (the proposal) that would amend the calculation of the Board's stress capital buffer requirement applicable to certain large bank holding companies, savings and loan holding companies, U.S. intermediate holding companies of foreign banking organizations, and nonbank financial companies supervised by the Board to reduce the volatility of the stress capital buffer requirement. The proposal would use the average of the maximum common equity tier 1 capital declines projected in each of the Board's prior two annual supervisory stress tests to inform a firm's stress capital buffer requirement. The proposal would also extend the annual effective date of the stress capital buffer requirement by one quarter, to January 1, to provide additional time for firms to comply with the requirement. In addition, the proposal would make changes to the FR Y-14A/Q/M reports to collect additional net income data that would improve the accuracy of the stress capital buffer requirement calculation, as well as remove data items that are no longer needed to conduct the supervisory stress test. The changes in the proposal are not designed to materially affect overall capital requirements and would decrease regulatory reporting burden.
Learn More🏦Sunshine Act Meetings - National Credit Union Administration Overview
The National Credit Union Administration announces an open meeting to discuss key matters, including temporary exceptions to appraisal requirements for financial institutions in wildfire-affected areas and voluntary separation programs. Attendees can gain insights into upcoming regulatory changes and their impact on financial operations and compliance.
Learn More📊Federal Reserve Announces Continuation of Regulation W Reporting Requirements
The Board of Governors of the Federal Reserve System (Board) is adopting a proposal to extend for three years, without revision, the Reporting and Recordkeeping Requirements Associated with Regulation W (FR W; OMB No. 7100-0304).
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