Banking News

Letters of Support Sent for H.R. 1941, H.R. 1334 and S. 871 April 23, 2015

Today American Bankers Association, on behalf of the state associations and bankers across the country, sent three letters of support to Congress regarding three previously introduced measures: H.R. 1941, H.R. 1334 and S. 871.

H.R. 1941, the Financial Institutions Examination Fairness and Reform Act, introduced by Reps. Lynn Westmoreland (R-GA) and Carolyn Maloney (D-NY), is designed to address continuing problems and concerns about the lack of consistency and quality in the bank examination process.

H.R. 1334, the Holding Company Registration Threshold Equalization Act, introduced by Rep. Steve Womack (R-AR), would extend to savings and loan holding companies (SLHCs) the Securities and Exchange Commission shareholder registration and deregistration thresholds enacted under the JOBS Act.

S. 871, the Helping Expand Lending Practices (HELP) in Rural Communities Act, introduced by Sen. Mitch McConnell (R-KY), would direct the CFPB to establish an application process under which a person who lives or does business in a state may apply to have an area designated as a rural area if it has not already been designated as such by the Bureau.

These bills would provide much needed regulatory relief for banks nationwide. We will continue to update you on their progress. Feel free to contact us for more information. And, please remember to let Congressman Womack know how much we appreciate his support of our banks.



House to Vote on AmBA-Backed Cybersecurity Bills This Week April 22, 2015

The full House is expected to vote this week on a pair of AmBA-supported bills designed to enhance cyber threat information sharing. The House will vote today on the Protecting Cyber Networks Act (H.R. 1560), passed unanimously by the House Select Committee on Intelligence, and tomorrow on the National Cybersecurity Protection Advancement Act (H.R. 1731), which sailed unanimously through the House Homeland Security Committee.

Both bills “could help foster a more robust cyber threat information sharing ecosystem,” AmBA and several other financial trade groups said in a letter to House members yesterday. “It is critical that Congress pass threat information sharing legislation to address today’s challenges and stay ahead of tomorrow’s threats.” Click here to read the letter.



FDIC to Answer Bankers’ Questions on Brokered Deposits April 17, 2015

The FDIC will hold an informational call on April 22 at 1 p.m. EDT to answer bankers’ questions about its recent FAQ guidance on brokered deposits. The agency encouraged bankers to submit questions in advance. Click here to access the dial-in information. For more information, or to submit questions anonymously via AmBA, contact Denyette DePierro.



Agencies Issue FAQs on HVCRE, Other Basel III Issues April 7, 2015

Responding to concerns from the banking industry about the application of the Basel III regulatory capital requirements, the financial agencies yesterday issued much-needed clarifications through frequently asked questions on the rule.

The FAQs cover the definition of capital, high-volatility commercial real estate exposures, other real estate and off-balance sheet exposures, separate account and equity exposures to investment funds, qualifying central counterparty, credit valuation adjustment and other topics.

For example, with regard to HVCRE, the FAQs clarified what loans can be exempted from the HVCRE definition, under what circumstances loans can avoid HVCRE classification and certain definitions related to HVCRE designations. Click here to read the FAQs.



Q1 Call Report Forms Include One-Time AOCI Calculation Election April 7, 2015

Last week, the federal financial regulators released report forms, an instruction book update, and supplemental instructions for the March 31, 2015, Call Report. This Call Report, due April 30, is the first submission that will fully reflect recent changes to regulatory capital - including the one-time election to exclude Accumulated Other Comprehensive Income from regulatory capital.

This election is a one time, irrevocable opt-out that must be made on Part 1 of Call Report Schedule RC-R, line item 3a.

The treatment of AOCI in the Basel III standards was highly contentious. ABA advocacy helped win the option for most institutions to exclude AOCI from regulatory capital, a choice that can significantly relieve burdens associated with flowing AOCI through capital. Click here to download the revised forms.



CFPB Issues Exam Procedures for TILA/RESPA Disclosures April 2, 2015

The Consumer Financial Protection Bureau yesterday released examination procedures to help financial institutions know what to expect from exams after the TILA/RESPA integrated mortgage disclosures take effect Aug. 1. Click here to view the TILA exam procedures. Click here to view the RESPA exam procedures.



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