Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
Fed seeks comment on financial institution combo rule
WASHINGTON (5/9/14)--Proposed Federal Reserve rules that would prohibit insured depository institutions and other financial firms from combining with another company in certain cases are now open for public comment.
 
The Fed proposal would specifically prohibit firms from combining if the ratio of the resulting financial company's liabilities exceeds 10% of the aggregate consolidated liabilities of all financial companies, the Fed said. The Fed would also measure and disclose the aggregate liabilities of financial companies annually and would calculate aggregate liabilities as a two-year average, under the proposal.
 
Bank holding companies, savings and loan holding companies, foreign banking organizations, companies that control insured depository institutions, and nonbank financial companies designated by the Financial Stability Oversight Council for Fed supervision would also be subject to the rule.
 
For the purposes of the Fed rule, liabilities are defined as the difference between an institution's risk-weighted assets, as adjusted to reflect exposures deducted from regulatory capital, and its total regulatory capital. Firms not subject to consolidated risk-based capital rules would measure liabilities using generally accepted accounting standards, the Fed said.
 
Comments on the proposal will be accepted until July 8. For more, use the resource link.
RSS





print
News Now LiveWire
Class is in session for Fin. Lit. Day on #capitolhill #NewsNow http://t.co/LuslMaSPlq
21 minutes ago
New website, resources for @cunacouncils http://t.co/926Y7QeDqW http://t.co/2BnZnwOjdU
31 minutes ago
Final field-of-membership rule tops April 30 NCUA agenda http://t.co/gFIhRhUCts
16 hours ago
.@CUNA's @Nussle speaks to @VonnieQuinn about #StoptheDataBreaches and reg. relief. http://t.co/TMTubG9Afk
18 hours ago
RT @NCUFoundation: .The Foundation's @hylandhighway with @NatlJumpStart President/CEO Laura Levine at #FLHillDay2015 today: http://t.co/ep5…
20 hours ago