Federal Reserve System April 2011 – Federal Register Recent Federal Regulation Documents

Request for Information Relating to Studies Regarding the Resolution of Financial Companies Under the Bankruptcy Code
Document Number: 2011-9986
Type: Notice
Date: 2011-04-29
Agency: Federal Reserve System, Agencies and Commissions
Section 216 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the ``Dodd-Frank Act'') requires the Board, in consultation with the Administrative Office of the United States Courts (the ``AOUSC''), to conduct a study regarding the resolution of financial companies under Chapter 7 or Chapter 11 of the United States Bankruptcy Code (Title 11, U.S. Code) (the ``Bankruptcy Code''). Section 217 of the Dodd-Frank Act requires the Board, in consultation with the AOUSC, to conduct a study regarding international coordination relating to the resolution of systemic financial companies under the Bankruptcy Code and applicable foreign law. Section 216 and Section 217 of the Dodd-Frank Act each identifies specific issues that are to be studied under the relevant section. The Board is issuing this request for information through public comment to assist the Board in conducting these studies.
Credit Risk Retention
Document Number: 2011-8364
Type: Proposed Rule
Date: 2011-04-29
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Department of Housing and Urban Development, Securities and Exchange Commission, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Federal Housing Finance Agency
The OCC, Board, FDIC, Commission, FHFA, and HUD (the Agencies) are proposing rules to implement the credit risk retention requirements of section 15G of the Securities Exchange Act of 1934 (15 U.S.C. 78o- 11), as added by section 941 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Section 15G generally requires the securitizer of asset-backed securities to retain not less than five percent of the credit risk of the assets collateralizing the asset-backed securities. Section 15G includes a variety of exemptions from these requirements, including an exemption for asset-backed securities that are collateralized exclusively by residential mortgages that qualify as ``qualified residential mortgages,'' as such term is defined by the Agencies by rule.
Formations of, Acquisitions by, and Mergers of Bank Holding Companies
Document Number: 2011-10396
Type: Notice
Date: 2011-04-29
Agency: Federal Reserve System, Agencies and Commissions
Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company
Document Number: 2011-10395
Type: Notice
Date: 2011-04-29
Agency: Federal Reserve System, Agencies and Commissions
Formations of, Acquisitions by, and Mergers of Bank Holding Companies
Document Number: 2011-10295
Type: Notice
Date: 2011-04-29
Agency: Federal Reserve System, Agencies and Commissions
Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company
Document Number: 2011-10134
Type: Notice
Date: 2011-04-27
Agency: Federal Reserve System, Agencies and Commissions
Formations of, Acquisitions by, and Mergers of Bank Holding Companies
Document Number: 2011-10133
Type: Notice
Date: 2011-04-27
Agency: Federal Reserve System, Agencies and Commissions
Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company
Document Number: 2011-10004
Type: Notice
Date: 2011-04-26
Agency: Federal Reserve System, Agencies and Commissions
Truth in Lending
Document Number: 2011-8843
Type: Rule
Date: 2011-04-25
Agency: Federal Reserve System, Agencies and Commissions
On February 22, 2010 and June 29, 2010, the Board published in the Federal Register final rules amending Regulation Z's provisions that apply to open-end (not home-secured) credit plans, in each case in order to implement provisions of the Credit Card Accountability Responsibility and Disclosure Act of 2009. The Board believes that clarification is needed regarding compliance with certain aspects of the final rules. Accordingly, to facilitate compliance, the Board is further amending specific portions of the regulations and official staff commentary.
Formations of, Acquisitions by, and Mergers of Bank Holding Companies
Document Number: 2011-9787
Type: Notice
Date: 2011-04-22
Agency: Federal Reserve System, Agencies and Commissions
Resolution Plans and Credit Exposure Reports Required
Document Number: 2011-9357
Type: Proposed Rule
Date: 2011-04-22
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System
The Board and the Corporation request comment on this proposed rule that implements the requirements in section 165(d) of the Dodd- Frank Wall Street Reform and Consumer Protection Act (the ``Dodd-Frank Act'') regarding resolution plans and credit exposure reports. Section 165(d) requires each nonbank financial company supervised by the Board and each bank holding company with assets of $50 billion or more to report periodically to the Board, the Corporation, and the Financial Stability Oversight Council (the ``Council'') the plan of such company for rapid and orderly resolution in the event of material financial distress or failure, and the nature and extent of credit exposures of such company to significant bank holding companies and significant nonbank financial companies and the nature and extent of the credit exposures of significant bank holding companies and significant nonbank financial companies to such company. Section 165(d)(8) of the Dodd- Frank Act requires the Board and the Corporation to jointly issue final rules implementing section 165(d) by not later than January 21, 2012.
Formations of, Acquisitions by, and Mergers of Bank Holding Companies
Document Number: 2011-9713
Type: Notice
Date: 2011-04-21
Agency: Federal Reserve System, Agencies and Commissions
Agency Information Collection Activities; Proposed Information Collection Requirements; Comment Request
Document Number: 2011-9634
Type: Notice
Date: 2011-04-21
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Office of Thrift Supervision
The agencies, as part of their continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to comment on a continuing information collection, as required by the Paperwork Reduction Act of 1995. An agency may not conduct or sponsor, and a respondent is not required to respond to, an information collection unless it displays a currently valid Office of Management and Budget (OMB) control number. The agencies are soliciting comment concerning a continuing information collection titled ``Basel II Interagency Supervisory Guidance for the Supervisory Review Process (Pillar 2).''
Federal Open Market Committee; Domestic Policy Directive of March 15, 2011
Document Number: 2011-9364
Type: Notice
Date: 2011-04-19
Agency: Federal Reserve System, Agencies and Commissions
Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company
Document Number: 2011-9166
Type: Notice
Date: 2011-04-15
Agency: Federal Reserve System, Agencies and Commissions
Formations of, Acquisitions by, and Mergers of Bank Holding Companies
Document Number: 2011-9165
Type: Notice
Date: 2011-04-15
Agency: Federal Reserve System, Agencies and Commissions
Prohibition Against Payment of Interest on Demand Deposits
Document Number: 2011-9002
Type: Proposed Rule
Date: 2011-04-14
Agency: Federal Reserve System, Agencies and Commissions
The Board is requesting public comment on proposed amendments that would repeal Regulation Q, Prohibition Against Payment of Interest on Demand Deposits, effective July 21, 2011. Regulation Q implements the statutory prohibition against payment of interest on demand deposits by institutions that are member banks of the Federal Reserve System set forth in Section 19(i) of the Federal Reserve Act (``Act''). Section 627 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (``Dodd-Frank Act'') repeals Section 19(i) of the Federal Reserve Act effective July 21, 2011. The proposed amendments implement the Dodd-Frank Act's repeal of Section 19(i). The proposed amendments would also repeal the Board's published interpretation of Regulation Q. The proposed amendments also remove references to Regulation Q found in the Board's other regulations, interpretations, and commentary.
Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company
Document Number: 2011-8946
Type: Notice
Date: 2011-04-14
Agency: Federal Reserve System, Agencies and Commissions
Incentive-Based Compensation Arrangements
Document Number: 2011-7937
Type: Proposed Rule
Date: 2011-04-14
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, National Credit Union Administration, Securities and Exchange Commission, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Office of Thrift Supervision, Federal Housing Finance Agency
The OCC, Board, FDIC, OTS, NCUA, SEC, and FHFA (the Agencies) are proposing rules to implement section 956 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The proposed rule would require the reporting of incentive-based compensation arrangements by a covered financial institution and prohibit incentive-based compensation arrangements at a covered financial institution that provide excessive compensation or that could expose the institution to inappropriate risks that could lead to material financial loss.
Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company
Document Number: 2011-8821
Type: Notice
Date: 2011-04-13
Agency: Federal Reserve System, Agencies and Commissions
Formations of, Acquisitions by, and Mergers of Bank Holding Companies
Document Number: 2011-8662
Type: Notice
Date: 2011-04-12
Agency: Federal Reserve System, Agencies and Commissions
Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company
Document Number: 2011-8661
Type: Notice
Date: 2011-04-12
Agency: Federal Reserve System, Agencies and Commissions
Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company
Document Number: 2011-8398
Type: Notice
Date: 2011-04-08
Agency: Federal Reserve System, Agencies and Commissions
Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company
Document Number: 2011-8289
Type: Notice
Date: 2011-04-07
Agency: Federal Reserve System, Agencies and Commissions
Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company
Document Number: 2011-8137
Type: Notice
Date: 2011-04-06
Agency: Federal Reserve System, Agencies and Commissions
Financial Market Utilities
Document Number: 2011-7812
Type: Proposed Rule
Date: 2011-04-04
Agency: Federal Reserve System, Agencies and Commissions
Under section 805(a)(1)(A) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the ``Dodd-Frank Act''), the Board of Governors of the Federal Reserve System (the ``Board'') is required to promulgate risk-management standards governing the operations related to the payment, clearing, and settlement activities of certain financial market utilities (``FMUs'') that are designated as systemically important by the Financial Stability Oversight Council (the ``Council''). In addition, under section 806(e) of the Dodd-Frank Act, the Board is required to prescribe regulations setting forth the standards for determining when advance notice is required to be provided by a designated FMU for which the Board is the Supervisory Agency when the designated FMU proposes to change its rules, procedures, or operations that could materially affect the nature or level of risks presented by the designated FMU. The Board is proposing new Part 234 to Title 12 of the Code of Federal Regulations to implement these provisions of the Dodd-Frank Act.
Consumer Leasing
Document Number: 2011-7377
Type: Rule
Date: 2011-04-04
Agency: Federal Reserve System, Agencies and Commissions
Effective July 21, 2011, the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) amends the Consumer Leasing Act (CLA) by increasing the threshold for exempt consumer leases from $25,000 to $50,000. In addition, the Dodd-Frank Act provides that, on or after December 31, 2011, this threshold must be adjusted annually by any annual percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers. Accordingly, the Board is making corresponding amendments to Regulation M, which implements the CLA, and to the accompanying staff commentary. Because the Dodd-Frank Act also increases the Truth in Lending Act's threshold for exempt consumer credit transactions from $25,000 to $50,000, the Board is making similar amendments to Regulation Z elsewhere in today's Federal Register.
Truth in Lending
Document Number: 2011-7376
Type: Rule
Date: 2011-04-04
Agency: Federal Reserve System, Agencies and Commissions
Effective July 21, 2011, the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) amends the Truth in Lending Act (TILA) by increasing the threshold for exempt consumer credit transactions from $25,000 to $50,000. In addition, the Dodd-Frank Act provides that, on or after December 31, 2011, this threshold must be adjusted annually by any annual percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers. Accordingly, the Board is making corresponding amendments to Regulation Z, which implements TILA, and to the accompanying staff commentary. Because the Dodd-Frank Act also increases the Consumer Leasing Act's threshold for exempt consumer leases from $25,000 to $50,000, the Board is making similar amendments to Regulation M elsewhere in today's Federal Register.