Financial Services Spotlight

December 2016 Developments

Posted by Roy Andersen on Jan 5, 2017 12:00:00 PM

Overview

The banking agencies did not appear to be participating in the supposed frenzy of rulemaking that has been prompted by the Trump election. In one of the few instances in history where powers of banks were actually reduced, banks were restricted in their dealings with industrial metals.  The CFTC proposed and adopted a variety of year-end regulations including related to position limits and aggregation of positions.  Big banks are bearing the brunt of regulatory focus including new final  rules on deposit account recordkeeping and disclosure of liquidity coverage. 

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Topics: Iran, Foreign Securities, National Banks, Qualified Financial Contracts, Small Banks, NCUA

Comptroller of the Currency Finalizes Regulation Prohibiting Purchasing Industrial or Commercial Metals

Posted by Roy Andersen on Dec 29, 2016 12:00:00 PM

On December 28, 2016, the OCC posted its final rule to prohibit national banks from dealing in or investing in industrial or commercial metals.[1]  This rule was proposed by the OCC in September 2016, and was approved in substantially the same form as the proposal.

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Topics: Commercial Metals, Purchasing, Banking, Industrial Metals, Copper, National Banks, OCC

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About the Spotlight


The Financial Services Spotlight examines the regulatory and technology developments impacting banks, asset managers and other financial services providers—where challenges meet opportunities.

The material on this site is for general information only and is not legal advice. No liability is accepted for any loss or damage which may result from reliance on it. Always consult a qualified lawyer about a specific legal problem.

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