All posts tagged "OCC"
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657Fintech / RegtechUS Regulators Pledge to Provide Clarity on Crypto Next Year
The Fed, OCC and FDIC plan to provide clarity on whether certain crypto-related activities conducted by banks are "legally permissible".
November 26, 2021 -
336Fintech / Regtech
US Regulators Call for Powers to Regulate Stablecoins
US regulators are calling for the enactment of legislation to ensure that stablecoin issuers are insured and subject to appropriate supervision and regulation.
November 3, 2021 -
299Market Infrastructure
US Regulators Publishes Guidance on ‘Orderly’ LIBOR Transition
A draw on an existing agreement that is legally enforceable, such as a committed credit facility, would not be viewed as a new contract.
October 22, 2021 -
482Market InfrastructureLSTA Offers Guidance on Credit Sensitive Rates to Replace LIBOR
The advisory provides sample language to facilitate the use of credit sensitive rates in hardwired fallback language in new and amended loan documentation.
April 16, 2021 -
1.2KAML / KYCAPAC Overtook US in AML Penalties For 2020: Fenergo
APAC has overtaken the US in terms of the value of enforcement actions for the first time since 2015, largely due to the Goldman and Westpac cases.
December 11, 2020 -
764Europe
Some USD LIBOR Settings May Continue Past End-2021
ICE Benchmark Administration intends to continue publishing some tenors of USD LIBOR until end-June 2023, which could allow time for most legacy contracts to mature.
December 1, 2020 -
793EnforcementUS OCC Fines JPMorgan for Weak Controls Over Fiduciary Activities
The deficiencies identified by the OCC constituted unsafe or unsound practices that were part of "a pattern of misconduct", says the consent order.
November 29, 2020 -
667Market Infrastructure
US Agencies Urge Banks Forward on LIBOR Transition
The Fed, OCC and FDIC have asked banks to move away from LIBOR 'without delay', accelerate customer outreach, and prepare their systems for the transition.
November 16, 2020 -
1.0KAML / KYCFed Orders Citigroup to Correct “Longstanding Deficiencies”
The Fed has ordered Citigroup to remediated enterprise-wide risk management and controls deficiencies. The OCC has penalised Citibank $400mn for the same deficiencies.
October 8, 2020 -
949Enforcement
US Regulators to Reprimand Citigroup Over Risk Management
The Federal Reserve and OCC are expected to require Citigroup to develop and execute a plan to improve its risk management systems.
September 17, 2020
