Agencies Propose Guidance to Enhance Resolution Planning at Large Banks
The Federal Deposit Insurance Corporation and Federal Reserve Board today invited public comment on proposed guidance to help certain large bank holding companies further develop their Dodd-Frank Act Title I resolution plans. These resolution plans, also known as “living wills,” describe a bank holding company’s strategy for rapid and orderly resolution under bankruptcy in the…
FDIC: Proposed Rule Issued to Strengthen Resolution Planning for Large Banks
Action part of broader work among regulators to improve resolution of large regional banks The Federal Deposit Insurance Corporation (FDIC) Board of Directors today approved a notice of proposed rulemaking to strengthen resolution planning for insured depository institutions (IDIs) with at least $100 billion in total assets. In addition, the FDIC’s Board joined with other…
Agencies Request Comment on Proposed Rule to Require Large Banks to Maintain Long-Term Debt to Improve Financial Stability and Resolution
Federal bank regulatory agencies today requested comment on a proposal that would require large banks with total assets of $100 billion or more to maintain a layer of long-term debt, which would improve financial stability by increasing the resolvability and resiliency of such institutions. This proposal follows an advance notice of proposed rulemaking issued in…
Federal and State Financial Regulatory Agencies Issue Interagency Statement on Supervisory Practices Regarding Financial Institutions Affected by the Hawaii Wildfires
The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Hawaii Department of Commerce and Consumer Affairs’ Division of Financial Institutions, the National Credit Union Administration, and the Office of the Comptroller of the Currency, collectively the agencies, recognize the serious impact of the recent Hawaii wildfires on the customers…
FDIC: Dream First Bank, N.A. of Syracuse, KS Assumes All Deposits of Heartland Tri-State Bank of Elkhart, KS
Heartland Tri-State Bank of Elkhart, Kansas, was closed today by the Kansas Office of the State Bank Commissioner, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect depositors, the FDIC entered into a purchase and assumption agreement with Dream First Bank, National Association, of Syracuse, Kansas, to assume all of the deposits…
Agencies Request Comment on Proposed Rules to Strengthen Capital Requirements for Large Banks
Bank regulatory agencies today requested comment on a proposal to increase the strength and resilience of the banking system. The proposal would modify large bank capital requirements to better reflect underlying risks and increase the consistency of how banks measure their risks. The changes would implement the final components of the Basel III agreement, also…
Agencies Finalize Policy Statement on Commercial Real Estate Loan Accommodations and Workouts
Federal financial institution regulatory agencies today jointly issued a final policy statement on commercial real estate loan accommodations and workouts. The updates reinforce and build on existing supervisory guidance calling for financial institutions to work prudently and constructively with creditworthy borrowers during times of financial stress. The statement is substantially similar to a proposal issued…
Agencies Release List of Distressed and Underserved Nonmetropolitan Middle-Income Geographies for 2023
Federal bank regulatory agencies today made available the 2023 list of distressed or underserved nonmetropolitan middle-income geographies. The Community Reinvestment Act (CRA) encourages banks to help meet the credit needs of their local communities, including low- and moderate- income communities, in a safe and sound manner. Distressed or underserved nonmetropolitan middle-income geographies are census tracts…