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US Federal Deposit Insurance Corporation Issues List of Banks Examined for Community Reinvestment Act Compliance
01/05/2015The FDIC issued a list of state non-member banks which were evaluated for compliance with the Community Reinvestment Act. The list relates to evaluation ratings that the FDIC assigned to institutions in October 2014. All of the banks rated received either satisfactory or outstanding ratings. The CRA was instituted in 1977 in order to encourage insured banks and thrifts to meet local credit needs, including those of low-income neighborhoods. Included in the Financial Institutions Reform, Recovery and Enforcement Act of 1989, Congress mandated that the public disclosure of the results of each bank and thrift that undergoes a CRA examination.
View the monthly list of banks examined for CRA compliance.
View the January 2015 list of banks examined for CRA compliance.Topic: Other Developments -
Further UK Legislation Implementing EU Bank Recovery and Resolution Directive Published
01/05/2015Topic: Recovery and Resolution
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US Securities and Exchange Commission Announces Program to Facilitate Analysis of Corporate Financial Data
12/30/2014
The SEC introduced a pilot program intended to simplify investor analysis and comparisons of public company financial statement data. The new program will organize data provided by companies into structured data sets which can be used for bulk downloads on the SEC’s website by investors. The SEC anticipates that such data sets will be expanded in 2015 to contain data in footnotes to the financial statements.
View examples of financial statement structured data sets.Topic: Other Developments -
Volcker Rule FAQs Updated
12/23/2014
The Board of Governors of the Federal Reserve along with other regulatory agencies responsible for implementing the Volcker Rule added an additional question under the Volcker Rule Frequently Asked Questions page relating to metrics reporting and confidentiality under the Freedom of Information Act. The updated FAQs indicate that the agencies will maintain the confidentiality of the reported information to the extent permitted by law and encourages entities subject to Appendix A of the Volcker Rule to evaluate potential exemptions and ask for confidential treatment if appropriate, including under Exemption 4 of the FOIA, which exempts confidential trade secrets and commercial information from disclosure.
View the updated Volcker Rule FAQs.Topic: Bank Structural Reform
The following posts provide a snapshot of selected UK, EU and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructures, asset managers and corporates.