Events listed in United States
Agencies release list of distressed or underserved nonmetropolitan middle-income ...
ID 23835
The Board of Governors of the Federal Reserve System (FED) has issued a press statement to announce the publication of the new 2023 list of „distressed or underserved nonmetropolitan middle-income geographies“. This list is primarily based on the assessment of local unemployment rates and the economic outlook (besides geographical criteria). The list is relevant for all banks providing lending services as investments in these ...
Asset Management: Updated Comptroller’s Handbook Booklet and Rescissions
ID 23832
The Office of the Comptroller of the Currency (OCC) has published a revised ‚Asset Management‘ booklet. This booklet focuses on identifying and analyzing risks of (covered) institutions associated with various types of asset management, including retail investment brokerage, custodial services, bank trust, and investment company services. It subsequently provides methods to assess the quality of institution’s risk management practices in relation to asset ma ...
OCC Hosts Credit and Operational Risk Workshops in Charlottesville
ID 23827
The Office of the Comptroller of the Currency (OCC) has published a press statement to announce two upcoming workshops in Charlottesville, Virginia, as regards credit and operational risk management. The workshops encompass the following: 1. credit risk management workshop: It will focus on critical elements of effective credit risk management thereby emphasizing the role of the Board of Directors and senior management, the identification ...
SEC Reopens Comment Period for Position Reporting of Large Security-Based Swap ...
ID 23808
On June 21, 2023, the U.S. Securities and Exchange Commission (SEC) announced on its website the reopening of a consultation as regards the implementation of new Rule § 240.10B-1 relating to the disclosure of material security-based swap positions. The consultation was originally launched in December 2021. Due to the issuance of „supplemental data and analysis“ by the SEC’s Division of Economic and Risk Analysis ...
Burma-related Designations and Designation Removal; Issuance of Burma-related ...
ID 23799
The Office of Foreign Assets Control (OFAC) has published a press release to inform about new sanction measures. Specifically, the Office added several entities to its Specially Designated Nationals and Blocked Persons List (SDN List) due to their connection to the Burma military regime pursuant to Executive Order 14014. The affected parties are the following: #### Entities MINISTRY OF DEFENSE OF BURMA (a.k.a. MINISTRY ...
Quality Control Standards for Automated Valuation Models
ID 23797
As previously announced on June 1, 2023, several U.S. banking regulators, including the Board of Governors of the Federal Reserve System (FED), the Office of the Comptroller of the Currency (OCC), and others have now published in the Federal Register a new consultation in connection with the use of automated valuation models (AVMs) when assessing the value of collaterals involving mortgages. Specifically, the regulators ...
Counter Terrorism Designations; South Sudan-related Designations
ID 23783
The Office of Foreign Assets Control (OFAC) published a press release informing about new sanction measures. Specifically, the Office added four individuals to its Specially Designated Nationals and Blocked Persons List (SDN List) based on Executive Order 13224, Executive Order 13664, and the Global Terrorism Sanctions Regulations (31 CFR Part 594). The affected persons are the following: AL-MATUTI, Arkan Ahmad ‚Abbas (a.k.a. ALBU-MITEUTI, Arkan ...
CFTC Whistleblower Office Issues Alert Seeking Tips Relating to Carbon Markets ...
ID 23776
In view of the increasing significance of carbon markets in an effort to reach the climate goals of the Paris agreement, the Commodity Futures Trading Commission, CFTC, has issued a press statement in this context. Specifically, the CFTC announces the issuance of an alert to encourage whistleblowing on market misconduct relating to energy trading and specifically to carbon markets trading. The alert thereby describes ...
Transnational Criminal Organizations Designations
ID 23755
The Office of Foreign Assets Control (OFAC) has published a press release to inform about new sanction measures. Specifically, the Office announced that it has added five persons and three entities to its Specially Designated Nationals and Blocked Persons List (SDN List) for participating or being part of criminal networks engaged in human smuggling pursuant to [*Executive Order 13581 – Blocking Property of Transnational ...
READOUT: Financial Stability Oversight Council Meeting on June 16, 2023
ID 23752
The U.S. Department of the Treasury (USDT) has published a press statement to inform of a recent meeting of the Financial Stability Oversight Council (FSOC) on June 16, 2023. Specifically, the following key issues were briefly discussed and / or noted in view of the current economic and macroprudential environment of financial institutions: **1. Potential risks for institutions in connection with the commercial real ...