Chicago Fed Discusses High Speed Trading.

In the March 2014 letter of the Federal Reserve Bank of Chicago, Senior Policy Advisor Carol L. Clark discusses the policy implications of high-speed trading. See also, Bloomberg.


Federal Reserve Board Adopts New Standards for Foreign and Large Banks.

On February 18th, the Federal Reserve Board approved a final rule which establishes a number of enhanced prudential standards for large U.S. bank holding companies and foreign banking organizations. These standards address liquidity, risk management, and capital. They also require a foreign banking organization with a significant U.S. presence to establish an intermediate holding company over its U.S. subsidiaries.Federal Reserve Board Press Release.


Comment Period Extended for SIFI Resolution Proposal.

On February 18th, the Federal Deposit Insurance Corporation ("FDIC") extended to March 20, 2014, the date by which comments should be submitted in response to the FDIC's proposal for the Single Point of Entry strategy for the resolution of systemically important financial institutions. FDIC Press Release.


OCC Supervisory Expectations.

On February 14th, the Office of the Comptroller of the Currency ("OCC") issued guidance to clarify the agency's supervisory expectations for national banks and federal savings associations regarding secured consumer debt discharged in Chapter 7 bankruptcy proceedings. OCC Bulletin.


OCC Workshops.

The OCC will host two workshops in Richmond, Virginia on March 25-26, 2014 for directors of national community banks and federal savings associations. The "Compliance Risk" and "Credit Risk: A Director's Focus" workshops are designed exclusively for directors of institutions supervised by the OCC. The compliance risk workshop focuses on major compliance risks and consumer protection regulations, such as the Qualified Mortgage Rule and Bank Secrecy Act, along with key elements of an effective compliance risk management program. The credit risk workshop focuses on the roles of the board and bank management, current events, emerging industry trends, and a range of credit issues, from structuring credit to collections. OCC Press Release.