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Inside Washington (12/14/2010)
* WASHINGTON (12/15/10)--Mike Brosnan has been named the Office of the Comptroller of Currency’s (OCC) senior deputy comptroller for large bank supervision. He replaces Doug Roeder, who announced his retirement in October (The American Banker Dec. 14). Brosnan returned to the OCC in 2008 as deputy comptroller for large bank supervision after spending four years as a senior executive with MBNA and then Bank of America, after its purchase of MBNA. Also joining the OCC leadership team are Vance Price and Sally Belshaw, who will assume the duties of portfolio managers for large banks as deputy comptrollers for large bank supervision. Most recently Belshaw served as examiner-in-charge of HSBC’s national banks, and Price served as examiner-in-charge of Capital One Financial … * WASHINGTON (12/15/10)--Joe Smith, the Obama administration’s nominee for Federal Housing Finance Agency director, said there are advantages to having government play a continued role in mortgage markets, but the ultimate decision should be left to Congress (The American Banker Dec. 14). Smith, who is commissioner of banks in North Carolina, was responding in writing to more than two dozen questions from Sen. David Vitter (R-La.). Smith said the government could make a positive difference in mortgage market segments such as multifamily rental housing and first-time homebuyers. He did not offer details on the Obama administration’s plan for developing for the housing market … * WASHINGTON (12/15/10)--The Federal Reserve Board yesterday approved a proposed rule that requires that capital requirements for insured banks to serve as a floor for other capital requirements. The proposed rule, part of Section 171 of the Dodd-Frank Act known as the Collins Amendment, replaces transitional floors in the advanced approaches rule with permanent risk-based capital floors equal to the capital requirements computed using the agencies’ general risk-based capital rules. The Basel II recommendations on banking laws and regulations allow reductions in risk-based capital requirements below those for insured banks, and require modification to be in compliance with Section 171. The proposal also modifies the agencies’ general capital requirements so the Federal Reserve has additional flexibility to craft capital requirements for nonbanks it supervises as a result of determinations by the Financial Stability Oversight Council. Other provisions of the Collins Amendment will be addressed in subsequent rulemakings, the Fed said. Comments are due 60 days from publication in the Federal Register. For The Notice of Proposed Rulemaking PDF, use the link ...


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