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On May 20, 2010, the Senate passed the Restoring American Financial Stability Act of 2010 (the “Senate bill” or the “bill”) by a vote of 59 to 39. Four Republicans voted with the ...
On April 23, 2010, the FDIC issued new Q&As (the “April Q&As”) that clarify certain aspects of its Statement of Policy for Failed Bank Acquisitions (the “Policy Statement”), but l...
The number of insured institutions on the FDIC’s “troubled bank” list grew to over 700 at the end of 2009 (nearly three times the number of banks on the list at the end of 2008), re...
Bank Holding Company Amendments (Title VI)
Volcker Rule
All purely technical and uninteresting, except for the following changes (insertions underlined):
Definition of proprietary tr...
I. Institutional Arrangements
Financial Stability Oversight Council. Interagency Council, consisting of 9 voting members – the Treasury Secretary (Chairperson) and the heads of Fed, OCC...
Senators Merkley (D-OR) and Levin (D-MI) proposed a bill yesterday that would substantially expand the prohibitions on proprietary trading and certain asset management activities recently...
On March 3, 2010, the Department of the Treasury delivered to the Hill proposed legislative text to implement the “Volcker Rule” announced by the Obama Administration on January 21st....
President Barack Obama’s announcement that his Administration would seek to limit both the activities and size of U.S. financial institutions (the “Obama Proposal”) immediately gene...
President Barack Obama unveiled plans to propose a financial crisis responsibility tax that would be levied on the largest financial institutions in terms of assets for at least the next ...
After a sharply divided vote of 3-2, the FDIC Board voted to request public comment on whether compensation policies should be incorporated as a factor in the risk-based insurance premium...