Agencies Issue 2023 Shared National Credit Program Report
Federal bank regulatory agencies today reported in the 2023 Shared National Credit (SNC) report that credit quality associated with large, syndicated bank loans remains moderate. However, the agencies noted declining credit quality trends due to the pressure of higher interest rates on leveraged borrowers and compressed operating margins in some industry sectors. Risks in leveraged…
Federal Bank Regulatory Agencies Seek Comment on Interagency Effort to Reduce Regulatory Burden
The federal bank regulatory agencies today published their first of a series of requests for comment to reduce regulatory burden. The Economic Growth and Regulatory Paperwork Reduction Act of 1996 requires the Federal Financial Institutions Examination Council and federal bank regulatory agencies to review their regulations every 10 years to identify any outdated or otherwise…
ABA: Trade Associations Sue Regulators for Exceeding Statutory Authority in New Community Reinvestment Act Rules
Groups ask court to vacate new CRA rules and will seek preliminary injunction to block implementation until case is decided. The American Bankers Association, the U.S. Chamber of Commerce, Independent Community Bankers of America, Texas Bankers Association, Independent Bankers Association of Texas, Amarillo Chamber of Commerce and Longview Chamber of Commerce today filed a lawsuit in the…
Federal Bank Regulatory Agencies Release Webinar on New CRA Regulations
The federal bank regulatory agencies today jointly issued a pre-recorded webinar on the interagency final rule to strengthen and modernize regulations implementing the Community Reinvestment Act (CRA). The nearly one-hour video provides an overview of the new CRA rule issued on October 24, 2023, and its objectives. Additional topics in the recording include assessment areas, community development, evaluation…
Federal Bank Regulatory Agencies Release 2022 Small Business, Small Farm, and Community Development Lending Data
The federal bank regulatory agencies, as members of the Federal Financial Institutions Examination Council (FFIEC), today released data on small business, small farm, and community development lending during 2022. The Community Reinvestment Act regulations require the agencies to annually disclose these data. The FFIEC also prepared aggregate disclosure statements of small business and small farm…
Agencies Release Annual Asset–Size Thresholds Under Community Reinvestment Act Regulations
The Federal Reserve Board and the Federal Deposit Insurance Corporation today announced the 2024 updated asset–size thresholds used to define “small bank” and “intermediate small bank” under their current Community Reinvestment Act (CRA) regulations. The CRA regulations establish the framework and criteria by which the relevant agencies assess a financial institution’s record of helping to…
FDIC: Rule Finalized to Modernize Official Signs and Advertising Statement Requirements for Insured Depository Institutions
The Federal Deposit Insurance Corporation (FDIC) Board of Directors today adopted a final rule to amend part 328 of its regulations to modernize the rules governing use of the official FDIC signs and advertising statements, and to clarify the FDIC’s regulations regarding false advertising, misrepresentations of deposit insurance coverage, and misuse of the FDIC’s name…
FDIC: Board of Directors Release Semiannual Update on Restoration Plan for Deposit Insurance Fund
The Federal Deposit Insurance Corporation (FDIC) Board of Directors today released its second semiannual update of 2023 on the Restoration Plan for the agency’s Deposit Insurance Fund (DIF). The Federal Deposit Insurance Act (FDI Act) requires that the FDIC Board adopt a restoration plan when the DIF’s reserve ratio—the ratio of the fund balance relative…