Events listed in United States
Appraisals for Higher-Priced Mortgage Loans Exemption Threshold
ID 26001
As previously announced, the Consumer Financial Protection Bureau (CFPB), the Federal Reserve Board (FED), and Office of the Comptroller of the Currency (OCC) have now published in the Federal Register their joint regulation to increase the threshold for exempting loans from special appraisal requirements for higher-priced mortgage loans from $31,000 to $32,400, effective January 1, 2024. This means that financial institution granting mortgage loans ...
Federal Reserve Bank Capital Stock
ID 25999
The Board of Governors of the Federal Reserve System (FED) published in the Federal Register the annual asset-size threshold adjustment pursuant to Regulation I entitled „Required stock purchases of Federal Reserve Bank stock“. This amount determines whether a bank will be paid a dividend of 6% (for those banks with total consolidated assets up to the threshold limit) or will be paid a dividend ...
Consumer Leasing (Regulation M)
ID 25998
As previously announced, the Consumer Financial Protection Bureau (CFPB) and the Federal Reserve Board (FED) have now published in the Federal Register their amendment to Regulation M (Consumer Leasing Regulation) to adjust the threshold indicating whether or not a leasing agreement falls under the regulation and is thus subject to enhanced disclosure and marketing requirements on part of the lessor. In detail, the agencies ...
Reserve Requirements of Depository Institutions
ID 25995
As previously announced by the Board of Governors of the Federal Reserve System (FED) on November 27, 2023 (EventID 24179), the FED has now published in the Federal Register its final rule which modifies statutory instrument 12 CFR Part 204, § 204.4 to adjust the amounts of reservable liabilities, including net transaction accounts, exempt from reserve requirements for 2024. Because the reserve ratio was set ...
Truth in Lending (Regulation Z)
ID 25988
As previously announced, the Consumer Financial Protection Bureau (CFPB) and the Federal Reserve Board (FED) have now published in the Federal Register their amendment to Regulation Z (Truth in Lending Regulation) to adjust the threshold indicating whether or not a credit agreement falls under the regulation and is thus subject to enhanced disclosure and marketing obligations or restrictions and extended customer privileges as to ...
FinCEN Extends Deadline for Companies Created or Registered in 2024 to File ...
ID 25987
The Financial Crimes Enforcement Network (FinCEN) has published a press statement to announce the finalization of its proposed rule amendment to extend the upcoming deadline for reporting beneficial ownership for certain companies. The final rule was meanwhile published in the Federal Register. Specifically, as proposed, FinCEN is modifying the current beneficial reporting rule as outlined in EventID 17480 and included in [Statutory Instrument 31 ...
Special Assessment Pursuant to Systemic Risk Determination
ID 25984
Following the consultation on proposed regulation aimed at recovering the losses incurred by the Deposit Insurance Fund (DIF) due to failures of the Silicon Valley Bank (SVB) in Santa Clara, CA, and Signature Bank (SB) in New York, NY, earlier this year, the Federal Deposit Insurance Company (FDIC) has now released its final regulation in this matter. #### Background To recall, in an effort ...
Counter Terrorism Designations; Iran-related Designations; Cyber-related ...
ID 25983
The Office of Foreign Assets Control (OFAC) has published a press release to inform about new sanction measures. Specifically, the Office added six individuals and 16 entities to its Specially Designated Nationals and Blocked Persons List (SDN List) pursuant to existing sanction regulations for their engagement in the financing of the Iranian military or the laundering of stolen virtual currency. The following persons and ...
Federal Reserve Board announces annual indexing of reserve requirement exemption ...
ID 25950
The Board of Governors of the Federal Reserve System (FED) has announced its upcoming amendments to statutory instrument 12 CFR Part 204, § 204.4 to adjust the amounts of reservable liabilities, including net transaction accounts, exempt from reserve requirements for 2024. Because the reserve ratio was set to zero at the onset of Covid-19 in 2020 (even beyond the limits), the new boundaries are actually ...
Regulatory Capital Rules: Risk-Based Capital Requirements for Depository ...
ID 25937
As announced in October 2023 (EventID 23337), the Board of Governors of the Federal Reserve System (FED) has now published in the Federal Register its final rule with respect to the capital requirements for Depository Institution Holding Companies (DIHCs) significantly engaged in insurance activities. These institutions were so far exempt from capital requirements which is why new rules were sought to enhance the resilience ...