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Monday, March 2, 2015

ABA Applauds SEC Plan to Address S&L Holding Company Disparity

ABA welcomed the SEC’s proposed rule to treat savings and loan holding companies the same as bank holding companies for purposes of registration and deregistration under the Exchange Act. ABA said:

We commend the commission for instituting these common-sense changes. These rule amendments will provide consistent treatment across regulatory charters, thus simplifying compliance and supervision.

The proposal addresses a technical error in the JOBS Act raising the threshold for registration from 500 to 2,000 shareholders and the deregistration threshold from 300 to 1,200 for BHCs — but not for S&LHCs. ABA has long sought to correct the oversight, advocating with both Congress and the SEC for a fix.

S&LHCs were also included for the first time in the Federal Reserve’s recent proposal to raise the threshold for small bank regulatory relief to $1 billion in assets. The proposal implements ABA-advocated legislation that Congress passed in December.

Read the letter.

ABA Welcomes Barr’s Portfolio Lending Bill

ABA wrote to Rep. Andy Barr (R-Ky.) to thank him for introducing H.R. 1113, an ABA-advocated bill that would allow all loans held in portfolio to be designated as Qualified Mortgages. ABA wrote:

Loans originated and held in portfolio by insured depositories, which are heavily regulated and regularly examined for safety and soundness, should be treated as Qualified Mortgages. This common-sense approach will help untold numbers of borrowers gain access to some of the most traditional and lowest risk mortgage products offered by banks.

The bill was introduced in the previous Congress and received bipartisan support in passing the House Financial Services Committee. A priority for last year’s joint ABA-state bankers association task force on regulatory relief, H.R. 1113 is a major element of ABA’s 2015

Agenda for America’s Hometown Banks.
Read the letter.

Friday, February 27, 2015

Fed Extends Comments Period: Capital Surcharges Proposed Rule

The Federal Reserve Board extended the comment period for the proposed rule to implement capital surcharges for the largest, most systemically import U.S. bank holding companies. The new deadline is April 3. This rule would establish a methodology to identify whether a firm is a global systemically important banking organization and would also establish the size of a firm’s risk-based capital surcharge.

Read more.

The Week Ahead: March 2 - 6

Monday
  • Comments Due: Risk-Based Capital Guidelines for GSIBs  Read more.
  • Final Rule: Final Rule Rescinding and Amending FDIC Regulations Regarding Administrative Hearings  Read more.
  • Final Rule: Final Rule Rescinding OTS Regulations for Receivers of Savings Associations  Read more.
Tuesday
  • Hearing: Federal Reserve Accountability and Reform  Read more.
  • Hearing: The Semi-Annual Report of the CFPB  Read more.
Thursday
  • Comments Due: Exemption for small savings and loan holding companies from capital requirements (Regulation Q)  Read more.
  • Comments Due: Proposed increase in applicability threshold for the Small Bank Holding Company Policy Statement  Read more.
All times in Eastern Standard Time. See future events on the
Dodd-Frank Calendar.

ABA Continues Call for Real-Life Stories of Regulatory Burden

More than 100 bankers have submitted real-life stories about regulatory burden’s effect on customers, and ABA is seeking additional anecdotes. The leaders of the Senate Banking Committee have asked for detailed feedback from community bankers on specific laws and regulations that hinder banks from serving their customers.

Bankers can click here to share their examples and experiences. ABA will compile the responses and share them with members of Congress as they explore ways to provide regulatory relief through legislation.

ABA-Advocated Portfolio Lending Bill Introduced

Rep. Andy Barr (R-Ky.) introduced an ABA-advocated bill, H.R. 1113, that would allow all loans held in by a bank in portfolio to be designated as Qualified Mortgages. Sixteen co-sponsors joined Barr in introducing the measure.

The bill was introduced in the previous Congress and received bipartisan support in passing the House Financial Services Committee. It is a major component of ABA’s Agenda for America’s Hometown Banks, making it easier for banks to make mortgage loans to creditworthy borrowers. ABA President and CEO Frank Keating said:

This proposal is a common sense approach that will help borrowers gain access to some of the lowest-risk mortgage products offered by banks. Banks hold only the safest loans in portfolio. There is no need to impose additional hurdles on banks or borrowers if the loan is held in portfolio.