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Inside Washington (05/08/2012)
  • WASHINGTON (5/9/12)--Banks are pressing the Federal Reserve to rework proposed Dodd-Frank Act regulations on stress tests, capital and liquidity requirements. The Fed has received 90 comment letters on the 173-page proposal, which would apply to all bank holding companies with more than $50 billion of assets and nonbank financial firms designated as systemically important by the Financial Stability Oversight Council. Some banks are concerned the proposal does not differentiate among institutions of different sizes. As part of its capital requirements, the proposal includes a risk-based capital surcharge. Banks complained that the amount of the surcharge is not specific. Banker concerns about liquidity requirements include how often stress tests must be performed, definitions of highly liquid assets and a one-size-fits-all approach. Banks also criticized the stress test requirements of the proposal. Among the concerns were the Fed's lack of transparency in the models used, overlapping tests with other regulators, scheduling and the disclosure of results …
  • WASHINGTON (5/9/12)--Paul Nash will succeed John Walsh as Office of Comptroller of Currency's (OCC) senior deputy comptroller and chief of staff.  Walsh announced that he is retiring this summer. Nash will join the OCC on May 21. He has been the deputy to the chairman for external affairs at the Federal Deposit Insurance Corp. since March 2009.  In that role, he oversaw the agency's Office of Legislative Affairs, the Office of the Ombudsman and the Office of Minority and Women Inclusion …
  • WASHINGTON (5/9/12)--Meg Burns, the Federal Housing Finance Agency's senior associate director for housing and regulatory policy, downplayed expectations of a government program to convert foreclosed properties into rental units. The Real Estate Owned (REO) Initiative was developed in conjunction with the Treasury Department, Department of Housing and Urban Development, Federal Deposit Insurance Corp., Federal Reserve, Fannie Mae and Freddie Mac. The goals of the program were "fairly limited" and focused only on markets with supply-demand imbalance, Burns said. The application process is demanding and only applicants with deep operational expertise in both asset management and property management are approved, she added. "The enterprise portion of the REO market is limited, so the future benefit of the program may be more applicable to private financial institutions that choose to sell their inventory in this manner," Burns said …


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