Banking and Finance Law Daily Wrap Up, REGULATION TRACKER—Upcoming comment deadlines and effective dates, (Mar 21, 2022)
Organizations Mentioned:Fannie Mae | Federal Housing Finance Agency | Financial Crimes Enforcement Network | Freddie Mac | Office of the Comptroller of the Currency
By WK Editorial Staff
Comment deadlines and effective dates for regulatory activity issued by the federal financial institution agencies.
The Banking and Finance Law Daily Regulation Tracker includes a Proposed Rules Comment Calendar and a table of Final Rule Effective Dates. Recent activity includes the following:
The Federal Housing Finance Agency has formally published, in the Federal Register, a final rule that amends the Enterprise Regulatory Capital Framework (ERCF) by refining the prescribed leverage buffer amount and credit risk transfer securitization framework for Fannie Mae and Freddie Mac. The FHFA continues to believe that the amendments in the final rule will lessen the potential deterrents to Enterprise risk transfer by properly aligning incentives in the ERCF and will position Fannie Mae and Freddie Mac to operate in a safe and sound manner to fulfill their statutory mission throughout the economic cycle, both during and after conservatorships.
The Office of the Comptroller of the Currency has issued a final rule amending the OCC’s suspicious activity report (SAR) regulations clarifying the OCC’s authority to issue exemptions from the regulations’ requirements based on a request from a national bank or federal savings association, including federal branches and agencies of foreign banks. The final rule was adopted with modifications to a proposed rule that was issued in January 2021. The final rule provides that, in connection with an SAR regulation exemption request, the OCC will consider criteria specified in the final rule, including consistency with the purposes of the Bank Secrecy Act and safe and sound banking. For an exemption request that also requires an exemption from the SAR requirements established by the Financial Crimes Enforcement Network (FinCEN), a national bank or federal savings association would be required to seek an exemption from both the OCC and FinCEN.
See the Regulation Tracker for details.
Companies: Fannie Mae; Freddie Mac
RegulatoryActivity: BankingOperations BankSecrecyAct CapitalBaselAccords FinancialStability GovernmentSponsoredEnterprises Loans Mortgages Receiverships