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Highlights From Federal Bank Regulators’ Joint Statement on Cryptocurrency Assets

Perficient

Using what could be described as “agile policy-making,” the agencies conducted a series of interagency “policy sprints” focused on crypto assets. The regulators broadly defined crypto assets as any digital asset implemented using cryptographic techniques.

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FDIC issues proposed rule for approval of ILC deposit insurance applications

CFPB Monitor

The FDIC has issued a proposed rule setting forth the conditions it would impose and the commitments it would require to approve a deposit insurance application from an industrial bank or industrial loan company (collectively, ILC) whose parent company is not subject to consolidated supervision by the Federal Reserve Board (FRB).

FDIC 60
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FDIC Proposes Large-Bank Surcharge

Independent Banker

The FDIC has released a proposal to indemnify the banks with assets less than $10 billion from the costs of raising the Deposit Insurance Fund reserve ratio from 1.15 The FDIC could vote on the proposal as early as next month. percent to 1.35 percent and may have even seen a rate hike. ICBA Member Poll. Farm Credit System.

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Trade groups seek extension of compliance date for Military Lending Act final rule

CFPB Monitor

The request was made in a letter to the CFPB, the Fed, the FDIC, the OCC, and the NCUA (Agencies). ” The trade groups note that it was not until last week, on August 26, 2016, that the DoD published in the Federal Register an interpretive rule to provide guidance regarding compliance with the July 2015 final rule.

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Trade groups seek de facto extension of compliance date for Military Lending Act final rule

CFPB Monitor

The request was made in a letter to the CFPB, the Fed, the FDIC, the OCC, and the NCUA (Agencies). ” The trade groups note that it was not until last week, on August 26, 2016, that the DoD published in the Federal Register an interpretive rule to provide guidance regarding compliance with the July 2015 final rule.

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Survey Finds Cost of Funds Top of Mind for Community Bankers

ABA Community Banking

Heated competition for bank funding is an increasingly important focus for community bank leaders, according to an annual survey released today by the Federal Reserve, the FDIC and the Conference of State Bank Supervisors. The post Survey Finds Cost of Funds Top of Mind for Community Bankers appeared first on ABA Banking Journal.

Survey 49
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Wading Through the Waters

Independent Banker

In June, five federal agencies (including FDIC, Office of the Comptroller of the Currency and the Federal Reserve) announced approval of a final rule that modifies regulations applying to loans secured by properties located in special flood hazard areas. taxes and insurance.