The OCC, Federal Reserve, and FDIC released updated guidance on model risk management, which rescinds and supersedes prior guidance to establish a more principles-based approach. Our visu...
SEC staff granted no-action relief regarding the exchange of bailed-in bonds of a failed UK bank for ordinary shares of the resolved firm under the Bank of England’s statutory bail-in p...
The OCC finalized a rule clarifying that national trust banks may engage in non-fiduciary activities but left open the question of whether a national trust bank must engage in a minimum a...
The Office of the Comptroller of the Currency issued a notice of proposed rulemaking that would change its supervisory appeals process. We compare the OCC proposal with the recently final...
The OCC proposed a rule that would eliminate any uncertainty as to whether national trust banks can engage in non-fiduciary activities. If adopted, the proposal would align language in th...
The Federal Reserve and FDIC took actions last week designed to facilitate crypto-related activities. The Federal Reserve rescinded its anti-crypto 2023 policy statement and replaced it w...
Davis Polk partner and Financial Institutions practice head Margaret Tahyar authored “Good Intentions – Bad Results” in Open Banker. In the article, Margaret contends that the shock...
The OCC released new Bank Secrecy Act examination procedures to reduce regulatory burdens for community banks, continuing its efforts to streamline anti-money laundering compliance obliga...
The FDIC and OCC propose to codify safety and soundness and reputational risk. This update contains our key takeaways, views on immediate steps banks should consider and a summary of the ...
