OCC Comptroller of the Currency delivers speech on regulatory burden relief.The Office of the Comptroller of the Currency’s (OCC) Thomas J. Curry delivered a speech on regulatory burden relief at an outreach meeting that was conducted under the Economic Growth and Regulatory Paperwork Reduction Act.
(10/19/2015) OCC speech.
OCC’s final rule establishes a new regulatory capital rule. The OCC announced that it published a final rule establishing a new regulatory capital rule. This rule reinforces the definition of regulatory capital, increases risk-based capital requirements, and amends the methodologies for determining risk-weighted assets. The rule, which became effective in January 2015, applied to all national banks and federal savings associations. Now that this rule is final, the OCC is rescinding certain OCC bulletins and three Office of Thrift Supervision (OTS) issuances that have become out of date or superseded. (10/13/2015) OCC bulletin.
OFR examines challenges of interpreting the Liquidity Coverage Ratio. The Treasury Department’s Office of Financial Research (OFR) published a working paper that illustrates the complexities of calculating and interpreting the Liquidity Coverage Ratio (LCR) under the international standard developed by the Basel Committee on Banking Supervision and under the US standard. (10/7/2015) OFR press release.
CFPB considers ban on arbitration clauses that prevent consumers from seeking class action relief. The Consumer Financial Protection Bureau (CFPB) indicated that it may propose new rules that would prevent consumer financial companies from including arbitration clauses that prohibit consumers from pursuing class action lawsuits against them. (10/7/2015) CFPB press release.