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USA - December 20 2012
On December 14, 2012, the Board of Governors of the Federal Reserve System (FRB) released a 300-page proposed rule (the Proposal) that would implement Sections 165 and 166 of the Dodd-Frank Wall Street Consumer Protection Act (Dodd-Frank Act) for foreign banking organizations (FBOs).
USA - June 8 2012
On June 8, 2012, the Federal Reserve Board (Board) approved three notices of proposed rulemaking (NPRs) that would significantly revise the regulatory capital requirements for all US banking organizations by, among other things, implementing the Basel III capital reforms and incorporating various Dodd-Frank-related capital provisions.
USA - October 18 2011
On October 17, 2011, the Board of Governors of the Federal Reserve System (FRB) approved a final rule (the “Resolution Plan Rule”) requiring certain large bank holding companies, non-US banks with US banking operations, and systemically significant nonbank financial companies to periodically submit to the FRB and the Federal Deposit Insurance Corporation (FDIC) (collectively, the “Agencies”) comprehensive plans for the rapid and orderly resolution of the company under the Bankruptcy Code in the event of material financial distress or failure (“Resolution Plans”).
USA - August 9 2011
On July 26, 2011, the US Securities and Exchange Commission (SEC) voted unanimously to adopt Form 13H and Rule 13h-1 under the Securities Exchange Act of 1934 (Exchange Act).
USA - May 2 2011
The US Federal Deposit Insurance Corporation (FDIC) and the Board of Governors of the Federal Reserve System (FRB) have jointly approved a proposed rule requiring certain companies to periodically submit Resolution Plans (also referred to as "living wills") and Credit Exposure Reports (the "Proposed Rule") to the FRB and FDIC.
