OCC: Mortgage Performance Report for Second Quarter 2023 Released
The Office of the Comptroller of the Currency (OCC) reported on the performance of first-lien mortgages in the federal banking system during the second quarter of 2023. The OCC Mortgage Metrics Report, Second Quarter 2023 showed that 97.3 percent of mortgages included in the report were current and performing at the end of the quarter, compared with…
Agencies Extend Favorable CRA Consideration for Revitalization Activities in Puerto Rico and U.S. Virgin islands Affected by Hurricane Maria
The federal bank regulatory agencies today announced they are extending the period for giving favorable consideration under their Community Reinvestment Act (CRA) regulations to institutions located outside of Puerto Rico and the U.S. Virgin Islands, for bank activities that continue to help revitalize or stabilize these areas devastated by Hurricane Maria. The agencies have determined…
Federal and State Financial Regulatory Agencies Issue Interagency Statement on Supervisory Practices Regarding Financial Institutions Affected by Hurricane Idalia
The Federal Deposit Insurance Corporation, the Federal Reserve Board, the National Credit Union Administration, the Office of the Comptroller of the Currency, and state financial regulators, collectively the agencies, recognize the serious impact of Hurricane Idalia on the customers and operations of many financial institutions and will provide appropriate regulatory assistance to affected institutions subject…
OCC: CRA Evaluation Schedule for Fourth Quarter 2023 and First Quarter 2024 Issued
The Office of the Comptroller of the Currency (OCC) today released its schedule of Community Reinvestment Act (CRA) evaluations to be conducted in the fourth quarter of 2023 and first quarter of 2024. The OCC encourages public comment on the national banks and federal savings associations (collectively, banks) scheduled to be evaluated under the CRA….
Agencies Propose Guidance to Enhance Resolution Planning at Large Banks
The Federal Deposit Insurance Corporation and Federal Reserve Board today invited public comment on proposed guidance to help certain large bank holding companies further develop their Dodd-Frank Act Title I resolution plans. These resolution plans, also known as “living wills,” describe a bank holding company’s strategy for rapid and orderly resolution under bankruptcy in the…
Agencies Request Comment on Proposed Rule to Require Large Banks to Maintain Long-Term Debt to Improve Financial Stability and Resolution
Federal bank regulatory agencies today requested comment on a proposal that would require large banks with total assets of $100 billion or more to maintain a layer of long-term debt, which would improve financial stability by increasing the resolvability and resiliency of such institutions. This proposal follows an advance notice of proposed rulemaking issued in…
Agencies to Host Roundtable on Special Purpose Credit Programs on September 12th
Four federal agencies will host a roundtable discussion September 12, 2023, at 3:00 p.m. EDT regarding the availability of special purpose credit programs to help meet the credit needs of eligible individuals. The event will be open to the public via livestream. U.S. Department of Housing and Urban Development Secretary Marcia L. Fudge, Acting Comptroller…
Federal and State Financial Regulatory Agencies Issue Interagency Statement on Supervisory Practices Regarding Financial Institutions Affected by the Hawaii Wildfires
The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Hawaii Department of Commerce and Consumer Affairs’ Division of Financial Institutions, the National Credit Union Administration, and the Office of the Comptroller of the Currency, collectively the agencies, recognize the serious impact of the recent Hawaii wildfires on the customers…