Bank Notes

  • August 23, 2017
    On Wednesday, August 23, 2017, the OCC issued a bulletin inviting comment on a proposed rule to increase the appraisal threshold for commercial real estate (CRE) transactions from $250,000 to $400,000. This threshold sets the transaction value above which national banks and federal savings associations (collectively, banks) must obtain appraisals that conform with Title XI of the Financial...
  • August 22, 2017
    On Tuesday, August 22, 2017, the FDIC released the Second Quarter 2017 Quarterly Banking Profile . Commercial banks and savings institutions insured by FDIC reported aggregate net income of $48.3 billion in the second quarter of 2017, up $4.7 billion (10.7 percent) from a year earlier. The increase in earnings was mainly attributable to a $10.3 billion (9.1 percent) increase in net interest...
  • August 22, 2017
    On Tuesday, August 22, 2017, the Board of Governors of the Federal Reserve, the FDIC and the OCC issued a joint release regarding a proposed rule that would extend the existing transitional capital treatment for certain regulatory capital deductions and risk weights. The extension would apply to banking organizations that are not subject to the agencies’ advanced approaches capital rules. Banking...
  • August 21, 2017
    On Monday, August 21, 2017, the OCC issued a bulletin providing guidance to spur community revitalization through prudent higher-loan-to-value mortgage lending in targeted areas. This bulletin provides guidance regarding the circumstances under which banks may establish a program to originate certain higher-LTV loans and the OCC’s supervisory considerations regarding such programs. “Banks and...
  • August 18, 2017
    On Monday, August 14, 2017, the Board of Governors of the Federal Reserve System, FDIC, and OCC issued interagency guidance on the regulatory capital treatment of certain centrally cleared derivative contracts in light of recent changes to the rulebooks of certain central counterparties. Highlights included: For a derivative contract structured such that on specified dates any outstanding...
  • August 16, 2017
    The CFPB released two report this week outlining challenges with student loan repayment and repayment programs. The first report, entitled “ CFPB Data Point: Student Loan Repayment ,” found nearly half of student loan borrowers leave school owing at least $20,000 – double the share of borrowers a decade ago. The Bureau also found more borrowers are taking out student loans later in life, and...
  • August 15, 2017
    On Tuesday, August 15, 2017, the OCC released the annual update to the Bank Accounting Advisory Series (“BAAS”), which covers a variety of topics and promotes consistent application of accounting standards among national banks and federal savings associations. This edition of the BAAS reflects accounting standards issued by the Financial Accounting Standards Board on topics such as the...
  • August 9, 2017
    On Wednesday, August 9, 2017, the Federal Reserve Board released final guidelines for evaluating requests for joint accounts at Federal Reserve Banks. The guidelines will become effective upon publication in the Federal Register. Joint accounts are intended to facilitate settlement between depository institutions participating in private-sector payment systems. The final guidelines broadly...
  • August 4, 2017
    On Friday, August 4, 2017, the FDIC issued its list of state non-member banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings the FDIC assigned to institutions in May of 2017. The August 2017 list of banks examined for CRA compliance is available here and the Monthly List of Banks Examined for CRA compliance is available here . A...
  • August 3, 2017
    At 12:01 a.m. today, the CFPB unveiled new Know Before You Owe overdraft disclosure prototypes. According to the agency, the disclosures are designed to improve the model form banks and credit unions already provide to consumers weighing POS/ATM overdraft coverage. The Bureau currently is testing four prototypes. Each prototype has a one-page design aimed at making the costs and risks of opting-...

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