Events listed in United States
Ukraine-/Russia-related Designation Removal
ID 23223
The Office of Foreign Assets Control (OFAC) has published a press release to inform about new sanction measures. Specifically, the Office removed one entity from its Specially Designated Nationals and Blocked Persons List (SDN List) that was previously sanctioned pursuant to existing sanction regulations (Executive Order 13662 and / or the Ukraine-/Russia-Related Sanctions Regulations (31 CFR Part 589)) for its connections to Gazprom. The ...
Regulation D: Reserve Requirements of Depository Institutions
ID 23213
The Board of Governors of the Federal Reserve System (FED) published in the Federal Register modifications to Regulation D – Reserve Requirements of Depository Institutions – with immediate effect to adjust the rate of interest on reserve balances (IROB) to 5.15 percent. The new rate represents a 0.25 percentage point increase from the prior level and is applicable to both required and excess balances ...
Facilitating the LIBOR Transition Consistent With the LIBOR Act (Regulation Z)
ID 23205
The Consumer Financial Protection Bureau, CFPB, has published in the Federal Register an interim final rule as regards various amendments under the Truth and Lending Regulation (Regulation Z or Statutory Instrument 12 CFR Part 1026), to implement or better transpose the Adjustable Interest Rate (LIBOR) Act of 2021 which determines SOFR, the Secured Overnight Financing Rate, as the Board selected replacement rate for all ...
Regulation A: Extensions of Credit by Federal Reserve Banks
ID 23202
The Board of Governors of the Federal Reserve System (FED) has made a publication in the Federal Register to announce the adoption of final amendments to its Regulation A to increase the rate for primary credit (overnight credit) at each Federal Reserve Bank. The secondary credit rate for those institutions not qualifying for the primary rate is thereby increased implicitly as well by a ...
Important Technical Notice for Users of the OFAC website on SSL Certificates
ID 23200
The Office of Foreign Assets Control (OFAC) has published a technical information notice to inform users of OFAC’s website and sanctions list data files of technical changes to its website. Specifically, **OFAC announces the „annual renewal of the public certificate securing www.treasury.gov website, including OFAC sanctions list downloads. The existing certificate (expiring May 18, 2023) will be replaced on May 15, 2023 at 8 ...
FINRA and NFA Discuss Crypto Assets at Special Summit
ID 23180
The Financial Industry Regulatory Authority, FINRA, has published a press statement to inform that during a recent meeting at FINRA’s office in San Francisco between FINRA and the National Futures Association (NFA), the two self-regulating organizations (SROs) expanded their existing Memorandum of Understanding (MoU) to include information exchange and cooperation in the area of crypto asset activities, including blockchain technology developments and crypto asset ...
Regulatory Notice 23-08
ID 23164
The Financial Industry Regulatory Authority (FINRA) has published a new Regulatory Notice (Regulatory Notice 23-08) addressed at member firms in connection with their obligations when selling or recommending private placements. Specifically, in view of recent developments in the private placement market, FINRA finds it necessary to again highlight its expectations particularly as regards the SEC’s Regulation Best Interest (REG BI) and FINRA Rule 2111 ...
Regulatory Notice 23-09
ID 23163
The Financial Industry Regulatory Authority, FINRA, has launched a high level consultation (Regulatory Notice 23-09) on ways to further improve capital raising possibilities in the U.S. financial market without compromising investor protection and financial market stability. In detail, FINRA seeks feedback from member firms as to the efficiency and adequacy of its current rules and possible modifications to achieve before mentioned objective. Before raising ...
Counter Narcotics Designations
ID 23151
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 four individuals and two entities to its Specially Designated Nationals and Blocked Persons List (SDN List) for being engaged in or supporting the trafficking of fentanyl and other illegal drugs pursuant to Executive Order 14059. The affected parties ...
SR 23-3 / CA 23-4
ID 23146
On May 8, 2023, the Board of Governors of the Federal Reserve System, FED, published a Supervision and Regulation Letter (SR 23-3 / CA 23-4) to inform FED-supervised institutions that it is planning to adopt a new technical solution for the communication between institutions and the FED as regards supervisory events. The new solution, the so-called One Agile Supervision Solution (OASiS) application, is an ...