Washington Report 360 | November 20, 2020

The Washington Report 360 will not be released next week but will return December 4, 2020. Wishing everyone a Happy Thanksgiving!

Amy S. Matsuo

Amy S. Matsuo

Regulatory and ESG Insights Leader, KPMG US

+1 919-664-7100

Key Highlights

  • FHFA adopted a final rule establishing a new regulatory capital framework for Fannie Mae and Freddie Mac that will significantly increase their combined total capital requirement (from approximately $35 billion to more than $280 billion).
  • Federal Reserve Chair does not favor allowing CARES Act lending facilities to expire in December, though Treasury has declined to extend funding for certain programs, including the Municipal Liquidity Facility and the Main Street Lending Program.
  • SEC adopted additional amendments to Regulation S-K disclosures, but two Commissioners dissented in part because the rule did not address climate change; FRB NY conducted a webinar on “the intersection of climate change approaches in the financial sector, and the opportunities for community resilience and inclusion”.
  • OCC finalized amendments to its licensing policies and procedures, including certain filing requirements for operating subsidiaries and notices for non-controlling investments
  • Focus on LIBOR transition by regulators and Congress.

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