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Washington
Inside Washington (11/30/2010)
* WASHINGTON (12/1/10)--The Federal Deposit Insurance Corp., saying it understands more about the relationship between big banks and risk after the recent financial crisis, will revise the formula it uses to calculate risk-based premiums, American Banker Nov. 30. The agency will add new factors to the calculation, including the level of concentration of higher-risk assets and a bank’s ratio of core to total funding. The FDIC’s existing assessment formula is based on the 2006 deposit insurance reform law. For most banks, the formula includes performance ratios to calculate the rate. For large banks, other factors, such as debt ratings, also are included. The FDIC first issued changes to the assessment plan in April. The latest revisions were released Nov. 9 to conform with changes brought about by the Dodd-Frank regulatory law … * WASHINGTON (12/1/10)--The U.S. Office of Financial Research (OFR), which was established improve data gathering within financial markets, is seeking to create a universal method for identifying financial firms and transactions Reuters Nov. 30. In a submission posted in the Federal Register on Tuesday, the OFR says it will invite comments on the “desired characteristics for a Legal Entity Identifier,” similar to bank routing numbers, that would make it easier to track transactions. OFR said no universal standard exists for identifying legal entities that take part in financial markets, which creates transaction failures and settlement issues. OFR was established earlier this year by the Dodd-Frank regulatory act and is currently located within the U.S. Treasury Department under the supervision of Lewis Alexander, a counselor to Treasury Secretary Timothy Geithner … * ALEXANDRIA, Va. (12/1/10)—The closed portion of the National Credit Union Adminstration’s (NCUA) December meeting has been moved from Dec. 16 to Dec. 17, the NCUA said on Tuesday. The open meeting remain s on its original date of Nov. 16. The NCUA also moved the closed portion of last month’s meeting to a separate date. Busy schedules have forced the NCUA to juggle dates and times of its meetings in recent months. The agency has traditionally held its closed meetings immediately after its open meetings …


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