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Five agencies finalise changes to the Volcker rule

Changes to the Volcker rule, which is designed to stop banks engaging in certain types of proprietary trading, have been finalised by the five regulatory agencies responsible for its oversight.

Firms warned to comply with bank rules on crypto-assets

Three US regulatory agencies have warned in a joint statement that the financial services industry must comply with banking rules when it comes to crypto-currencies.

US accounting standard to hit banks in a variety of ways

The current expected credit loss (CECL) standard will make it harder to compare bank reserve levels and will hit firms in a variety of ways when it comes in on January 2020, according to a report by Fitch Ratings. 

Banks to be classified into four risk categories

Banks will be classified into four categories reflecting factors such as risk profiles as part of the US Federal Reserve Board’s framework for tailoring enhanced prudential standards for firms with $100bn or more in assets. 

Will Newcomer

CECL delay presents banks with opportunity to extract benefits

Parts of a new accounting standard, CECL, have proven to be contentious, but a delay in its implementation should be used by financial institutions as an opportunity to extract benefits from the best parts of it  

Agencies finalise living wills framework amendments

US regulators have finalised rules that modify the resolution planning requirements, or living wills, for banks.

US agencies propose initial margin exemptions for swap affiliates

Five agencies are proposing that swap entities would not have to hold initial margin for uncleared swaps with their affiliates while inter-affiliate transactions would still be subject to variation margin requirements.

US agencies sign up to the Global Financial Innovations Network

Four US agencies said in a joint statement that they have signed up to the Global Financial Innovations Network (GFIN), an initiative designed to foster international cooperation among regulators in the field of innovation.

US agencies consult on credit loss accounting standards

Four US agencies are seeking feedback on their proposals for allowances for credit losses and guidance on credit risk review systems.

Fed and FDIC seek comment on CAMELS ratings

Financial institutions and regulatory agencies are being given an opportunity to comment on the consistency of the Uniform Financial Institutions Rating System, also known as CAMELS ratings.