Continued focus on CRA; Fannie Mae and Freddie Mac to return to private-shareholder ownership; continued focus on leveraged lending
Community Reinvestment Act (CRA):
Administration officials are finalizing a plan to return Fannie Mae and Freddie Mac to private-shareholder ownership. (WSJ)
The House Financial Services Committee will conduct a hearing on June 4 on Emerging Threats to Stability: Considering the Systemic Risk of Leveraged Lending.
The federal banking agencies issued a final rule regarding the treatment of certain municipal obligations as high-quality liquid assets.
The CFTC will propose rules that allows it to act extraterritorially when swaps activity has a “direct and significant connection with activities in, or effect on, commerce in the US.” (MarketsMedia, Thomson Reuters)
The State of New Jersey proposed rules that would impose a fiduciary duty on all financial services professionals licensed in the state. (PlanAdviser)
The New York Federal Reserve Bank will host a conference on Building Cultural Capital in the Financial Services industry on June 4.
The OCC will combine supervision and examination of large, midsize, and community banks into a single supervisory platform “by next year.” (American Banker)
CPMI and IOSCO concluded that the U.S. has fully implemented the PFMI for payment systems, central security depositories, and securities settlement systems.
Correspondent banking relationships: