OCC Survey of Credit Underwriting.
On January 30th, the OCC published its 19th Annual Survey of Credit Underwriting. The survey shows that underwriting standards are continuing to ease, with easing noted within both commercial and retail products.OCC Press Release.
OCC and Boston University to Host Symposium.
On January 27th, the OCC announced that it, along with the Boston University Center for Finance, Law & Policy, will host a symposium in Boston on March 31, 2014 to commemorate the 150th anniversary of the founding of the OCC and the national banking system. Speakers will discuss the current state of domestic and international banking in the context of recent and historical events. OCC Press Release.
Supervisory Guidance for the Eight Largest Bank Holding Companies.
On January 24th, the Federal Reserve Board provided additional information on its expectations for the recovery and resolution preparedness of certain large domestic bank holding companies. The supervisory guidancediscusses the importance of having robust systems to manage collateral, information, and payments, clearing, and settlement activities. It also stresses the importance of adequate liquidity and funding arrangements during times of stress. The supervisory guidance is applicable to eight domestic bank holding companies: Bank of America Corporation; Bank of New York Mellon Corporation, PLC; Citigroup Inc.; Goldman Sachs Group, Inc.; JPMorgan Chase & Co.; Morgan Stanley; State Street Corporation; and Wells Fargo & Company. Federal Reserve Board Press Release.