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  • Agencies issue Statement providing Additional Information for certain Bank Secrecy Act Due Diligence Requirements

    Agencies issue Statement providing Additional Information for certain Bank Secrecy Act Due Diligence Requirements | site |



    (August 21, 2020) - - Today, August 21, 2020, the Board of Governors of the Federal Reserve System published the following information:

    Board of Governors of the Federal Reserve System
    Federal Deposit Insurance Corporation
    Financial Crimes Enforcement Network
    National Credit Union Administration
    Office of the Comptroller of the Currency


    WASHINGTON—The Federal Reserve Board, the Federal Deposit Insurance Corporation, the Financial Crimes Enforcement Network, the National Credit Union Administration, and the Office of the Comptroller of the Currency today issued a joint statement clarifying that Bank Secrecy Act (BSA) due diligence requirements for customers who may be considered "politically exposed persons" (PEPs) should be commensurate with the risks posed by the PEP
    ...
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  • Agencies Issue Host State Loan-to-Deposit Ratios

    Agencies Issue Host State Loan-to-Deposit Ratios

    Agencies Issue Host State Loan-to-Deposit Ratios| site |


    (June 2, 2020) - - Today (June 2, 2020), the Federal Deposit Insurance Corporation (FDIC) published the following information:

    Joint Release

    Board of Governors of the Federal Reserve System
    Federal Deposit Insurance Corporation
    Office of the Comptroller of the Currency



    Agencies Issue Host State Loan-to-Deposit Ratios



    The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency today issued the host state loan-to-deposit ratios that they will use to determine compliance with section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994. These ratios replace the prior year's ratios, which were released on May 28, 2019. In general, section 109 prohibits a bank from establishing or acquiring a branch or branches outside of ...
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  • Agencies Provide Additional Information to Encourage Financial Institutions to Work with Borrowers Affected by COVID-19

    Agencies Provide Additional Information to Encourage Financial Institutions to Work with Borrowers Affected by COVID-19 | site |




    Board of Governors of the Federal Reserve System

    Conference of State Bank Supervisors

    Consumer Financial Protection Bureau

    Federal Deposit Insurance Corporation

    National Credit Union Administration

    Office of the Comptroller of the Currency





    (March 22, 2020) - - Today (March 22, 2020), the Board of Governors of the Federal Reserve System published the following information: The federal financial institution regulatory agencies and the state banking regulators issued an interagency statement encouraging financial institutions to work constructively with borrowers affected by COVID-19 and providing additional information regarding loan modifications. The agencies encourage financial institutions to work with borrowers, will not cri...
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  • Federal Banking Agencies provide Banks additional flexibility to Support Households and Businesses

    Federal Banking Agencies provide Banks additional flexibility to Support Households and Businesses| site |



    Board of Governors of the Federal Reserve System

    Federal Deposit Insurance Corporation

    Office of the Comptroller of the Currency



    (March 17, 2020) - - Today (March 17, 2020), the Board of Governors of the Federal Reserve System published the following information:

    The federal bank regulatory agencies today announced two actions to support the U.S. economy and allow banks to continue lending to households and businesses. They are:
    • A statement encouraging banks to use their resources to support households and businesses; and
    • A technical change to phase in, as intended, the automatic distribution restrictions gradually if a firm's capital levels decline.
    The statement notes that banks have more than doubled their capital and liquidity levels over the past decade and are now substantially safer and...
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  • Federal Banking Agencies encourage Banks to use Federal Reserve Discount Window

    Federal Banking Agencies encourage Banks to use Federal Reserve Discount Window

    Federal Banking Agencies encourage Banks to use Federal Reserve Discount Window| site |



    Board of Governors of the Federal Reserve System
    Federal Deposit Insurance Corporation
    Office of the Comptroller of the Currency
    (March 17, 2020) - - On March 16, 2020 the Board of Governors of the Federal Reserve System published the following information: The federal bank regulatory agencies today released a statement encouraging banks to use the Federal Reserve's "discount window" so that they can continue supporting households and businesses. The discount window provides short-term loans to banks and plays an important role in supporting the liquidity and stability of the banking system. By providing ready access to funding, the discount window helps depository institutions manage their liquidity risks efficiently and avoid actions that have negative consequences for their customers. Thus, the discount window supports the smooth flow of credit to households a
    ...
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  • Agencies encourage Financial Institutions to meet Financial Needs of Customers and Members affected by Coronavirus

    Agencies encourage Financial Institutions to meet Financial Needs of Customers and Members affected by Coronavirus| site |



    Board of Governors of the Federal Reserve System
    Consumer Financial Protection Bureau
    Federal Deposit Insurance Corporation
    National Credit Union Administration
    Office of the Comptroller of the Currency
    Conference of State Bank Supervisors
    (March 9, 2020) - - Today, the Board of Governors of the Federal Reserve System published the following information contained in a joint press release apparently issued by the agencies italicized above: Federal financial institution regulators and state regulators today encouraged financial institutions to meet the financial needs of customers and members affected by the coronavirus. The agencies recognize the potential impact of the coronavirus on the customers, members, and operations of many financial institutions and will provide appropriate regulatory assistance to affe
    ...
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  • Agencies invite Comment on Updates to Resolution Plan Guidance for Large Foreign Banks

    Agencies invite Comment on Updates to Resolution Plan Guidance for Large Foreign Banks| site |



    Board of Governors of the Federal Reserve System
    Federal Deposit Insurance Corporation
    (March 6, 2020) - - Today, the Board of Governors of the Federal Reserve System published the following information: The Federal Deposit Insurance Corporation and the Federal Reserve Board on Friday invited public comment on proposed changes to the guidance for resolution plans submitted by large foreign banks, including plans that are due by July 1, 2021. The updates focus on the agencies' expectations around a firm's derivatives and trading activities and payment, clearing, and settlement activities. Resolution plans, commonly known as living wills, must describe the company's strategy for rapid and orderly resolution in bankruptcy in the event of material financial distress or failure of the company. The resolution planning process helps ensure that a firm's failure woul
    ...
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  • Federal Banking Agencies host the 2020 National Interagency Community Reinvestment Conference

    Federal Banking Agencies host the 2020 National Interagency Community Reinvestment Conference| site |



    Board of Governors of the Federal Reserve System
    Federal Deposit Insurance Corporation
    Office of the Comptroller of the Currency



    (February 21, 2020) - - Today (February 21, 2020), the Board of Governors of the Federal Reserve System published the following information: The 2020 National Interagency Community Reinvestment Conference takes place in Denver from March 9 to 12. The conference is hosted by the three federal banking agencies, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency, and the Federal Reserve Banks of San Francisco, Kansas City, and Chicago. This biennial conference offers participants from around the country the opportunity to learn about the Community Reinvestment Act (CRA) and to discuss best practices and emer...
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  • U.S. Office of Personnel Management Reminds Agencies of Guidance for 2020 Census

    U.S. Office of Personnel Management Reminds Agencies of Guidance for 2020 Census| site |



    (February 6, 2020) - - Today (February 6, 2020), the U.S. Office of Personnel Management published the following information:

    WASHINGTON, DC – The U.S. Office of Personnel Management (OPM) is issuing a Memorandum for Heads of Executive Departments and Agencies as a reminder to agencies that current employees may be able to accept employment with the Census Bureau during the 2020 census taking. This is being done so that agencies can ensure their employees understand the circumstances under which they may receive pay for more than one federal position, specifically short-term, temporary jobs affiliated with the 2020 Census.
    ...
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  • U.S. Office of Personnel Management Issues Further Coronavirus Guidance to Agencies

    U.S. Office of Personnel Management Issues Further Coronavirus Guidance to Agencies| site |



    (February 7, 2020) - - Today (February 7, 2020), the U.S. Office of Personnel Management published the following information:

    WASHINGTON, DC – The U.S. Office of Personnel Management (OPM) has released additional guidance to assist agencies and employees in responding to any concerns about exposure to the 2019 Novel Coronavirus (2019-nCoV). The memo provides information on various human resources (HR) flexibilities that agencies and employees may use during periods when employees are subject to quarantine or isolation in connection with 2019-nCoV. OPM has convened a working group of key agencies to determine what HR guidance is needed in response to 2019-nCoV. OPM will continue to coordinate with the Centers for Disease Control and Prevention (CDC) and the agency working group to identify federal workforce impacts, direct agencies to the latest informati
    ...
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  • Agencies extend Comment Period for Proposed Rule to amend Swap Margin Rules

    Agencies extend Comment Period for Proposed Rule to amend Swap Margin Rules

    Agencies extend Comment Period for Proposed Rule to amend Swap Margin Rules | site |



    Board of Governors of the Federal Reserve System
    Farm Credit Administration
    Federal Deposit Insurance Corporation
    Federal Housing Finance Agency
    Office of the Comptroller of the Currency




    (December 20, 2019) - - Today (December 20, 2019), the Board of Governors of the Federal Reserve System published the following information:

    Five federal agencies today announced they will reopen and extend until January 23, 2020, the comment period on a proposal to change swap margin rules to facilitate the implementation of prudent risk management strategies at certain banks and swap entities.

    The agencies extended the comment period to allow interested persons more time to analyze the issues and prepare their comments, which were originally due by December 9, 2019.

    Federal Register notice
    ...
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  • Agencies extend Deadline on Request for Information on CAMELS Rating System

    Agencies extend Deadline on Request for Information on CAMELS Rating System

    Agencies extend Deadline on Request for Information on CAMELS Rating System| site |


    Board of Governors of the Federal Reserve System

    Federal Deposit Insurance Corporation



    (December 20, 2019) - - Today (December 20, 2019), the Board of Governors of the Federal Reserve System published the following information:

    The Federal Deposit Insurance Corporation and the Federal Reserve Board on Friday announced that they will extend until February 28, 2020, the deadline on the request for information on their use of the Uniform Financial Institutions Rating System, also known as the CAMELS rating system.

    The agencies extended the comment period to allow interested persons more time to analyze the issues and prepare their comments, which were originally due by December 30, 2019.


    Federal Register notice
    ...
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  • Agencies find no Deficiencies in Resolution Plans from the Largest Banks; Find Shortcomings for Several Firms

    Agencies find no Deficiencies in Resolution Plans from the Largest Banks; Find Shortcomings for Several Firms| site |



    Board of Governors of the Federal Reserve System

    Federal Deposit Insurance Corporation
    (December 17, 2019) - - Today, the Board of Governors of the Federal Reserve System published the following information: The Federal Reserve Board and Federal Deposit Insurance Corporation announced Tuesday that they did not find any "deficiencies," which are weaknesses that could result in additional prudential requirements if not corrected, in the resolution plans of the largest and most complex domestic banks. However, plans from six of the eight banks had "shortcomings," which are weaknesses that raise questions about the feasibility of a firm's plan, but are not as severe as a deficiency. Plans to address the shortcomings are due to the agencies by March 31, 2020. Resolution plans, commonly known as living wills, describe a bank's strate
    ...
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  • Agencies Clarify Requirements for Providing Financial Services to Hemp-related Businesses

    Agencies Clarify Requirements for Providing Financial Services to Hemp-related Businesses | site |



    Board of Governors of the Federal Reserve System

    Federal Deposit Insurance Corporation

    Financial Crimes Enforcement Network

    Office of the Comptroller of the Currency

    Conference of State Bank Supervisors



    (December 3, 2019) - - Today, the Board of Governors of the Federal Reserve System published the following information: WASHINGTON—Four federal agencies in conjunction with the state bank regulators today issued a statement clarifying the legal status of hemp growth and production and the relevant requirements under the Bank Secrecy Act (BSA) for banks providing services to hemp-related businesses. The statement emphasizes that banks are no longer required to file suspicious activity reports (SAR) for customers solely because they are engaged in the growth or cultivation of hemp in accordance w...
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  • U.S. Department of Education Rated Among Top Agencies on - - -Invest In What Works - - - Federal Standard of Excellence

    U.S. Department of Education Rated Among Top Agencies on “Invest In What Works” Federal Standard of Excellence| site |


    (November 1, 2019) - - Today (November 1, 2019), the U.S. Department of Education published the following information:

    WASHINGTON — The U.S. Department of Education’s leading efforts to use evidence and data in its management, budget, and policy decisions have been recognized in Results for America’s 2019 Invest in What Works Federal Standard of Excellence. Results for America provides a snapshot of how federal agencies are building and using evidence and data to get better results for young people, their families, and communities. Among nine federal agencies examined, the Department of Education ranked third on the Federal Standard of Excellence, with a total score of 73 points out of a possible 100. The Department of Education received the highest possible scores for leadership, related to federal agencies designating key personnel t
    ...
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  • Staff Reporter 1
    Agencies issue Statement providing Additional Information for certain Bank Secrecy Act Due Diligence Requirements
    by Staff Reporter 1
    Agencies issue Statement providing Additional Information for certain Bank Secrecy Act Due Diligence Requirements | site |



    (August 21, 2020) - - Today, August 21, 2020, the Board of Governors of the Federal Reserve System published the following information:

    Board of Governors of the Federal Reserve System
    Federal Deposit Insurance Corporation
    Financial Crimes Enforcement Network
    National Credit Union Administration
    Office of the Comptroller of the Currency


    WASHINGTON—The Federal Reserve Board, the Federal Deposit Insurance Corporation, the Financial Crimes Enforcement Network, the National Credit Union Administration, and the Office of the Comptroller of the Currency today issued a joint statement clarifying that Bank Secrecy Act (BSA) due diligence requirements for customers who may be considered "politically exposed persons" (PEPs) should be commensurate with the risks posed by the PEP
    ...
    08-31-2020, 06:45 PM
  • Staff Reporter 1
    Agencies Issue Host State Loan-to-Deposit Ratios
    by Staff Reporter 1
    Agencies Issue Host State Loan-to-Deposit Ratios| site |


    (June 2, 2020) - - Today (June 2, 2020), the Federal Deposit Insurance Corporation (FDIC) published the following information:

    Joint Release

    Board of Governors of the Federal Reserve System
    Federal Deposit Insurance Corporation
    Office of the Comptroller of the Currency



    Agencies Issue Host State Loan-to-Deposit Ratios



    The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency today issued the host state loan-to-deposit ratios that they will use to determine compliance with section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994. These ratios replace the prior year's ratios, which were released on May 28, 2019. In general, section 109 prohibits a bank from establishing or acquiring a branch or branches outside of ...
    06-05-2020, 03:59 AM
  • Staff Reporter 1
    Agencies Provide Additional Information to Encourage Financial Institutions to Work with Borrowers Affected by COVID-19
    by Staff Reporter 1
    Agencies Provide Additional Information to Encourage Financial Institutions to Work with Borrowers Affected by COVID-19 | site |




    Board of Governors of the Federal Reserve System

    Conference of State Bank Supervisors

    Consumer Financial Protection Bureau

    Federal Deposit Insurance Corporation

    National Credit Union Administration

    Office of the Comptroller of the Currency





    (March 22, 2020) - - Today (March 22, 2020), the Board of Governors of the Federal Reserve System published the following information: The federal financial institution regulatory agencies and the state banking regulators issued an interagency statement encouraging financial institutions to work constructively with borrowers affected by COVID-19 and providing additional information regarding loan modifications. The agencies encourage financial institutions to work with borrowers, will not cri...
    03-23-2020, 11:09 AM
  • Staff Reporter 1
    Federal Banking Agencies provide Banks additional flexibility to Support Households and Businesses
    by Staff Reporter 1
    Federal Banking Agencies provide Banks additional flexibility to Support Households and Businesses| site |



    Board of Governors of the Federal Reserve System

    Federal Deposit Insurance Corporation

    Office of the Comptroller of the Currency



    (March 17, 2020) - - Today (March 17, 2020), the Board of Governors of the Federal Reserve System published the following information:

    The federal bank regulatory agencies today announced two actions to support the U.S. economy and allow banks to continue lending to households and businesses. They are:
    • A statement encouraging banks to use their resources to support households and businesses; and
    • A technical change to phase in, as intended, the automatic distribution restrictions gradually if a firm's capital levels decline.
    The statement notes that banks have more than doubled their capital and liquidity levels over the past decade and are now substantially safer and...
    03-18-2020, 10:33 AM
  • Staff Reporter 1
    Federal Banking Agencies encourage Banks to use Federal Reserve Discount Window
    by Staff Reporter 1
    Federal Banking Agencies encourage Banks to use Federal Reserve Discount Window| site |



    Board of Governors of the Federal Reserve System
    Federal Deposit Insurance Corporation
    Office of the Comptroller of the Currency
    (March 17, 2020) - - On March 16, 2020 the Board of Governors of the Federal Reserve System published the following information: The federal bank regulatory agencies today released a statement encouraging banks to use the Federal Reserve's "discount window" so that they can continue supporting households and businesses. The discount window provides short-term loans to banks and plays an important role in supporting the liquidity and stability of the banking system. By providing ready access to funding, the discount window helps depository institutions manage their liquidity risks efficiently and avoid actions that have negative consequences for their customers. Thus, the discount window supports the smooth flow of credit to households a
    ...
    03-17-2020, 12:22 PM

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