|
Featured
Items on TheCRE.com
®: CRE's Regulatory
Action of the Week
|
|
Federal Reserve Board Publishes Stress Test Rules
On October 12, 2012, the Board of Governors of the Federal Reserve System published Federal Register notice of final rules implementing Supervisory and Company-Run Stress Test Requirements for Covered Companies. These rules respond to the Dodd-Frank Wall Street Reform and Consumer Protection Act, which requires the Board to conduct annual stress tests of bank holding companies with total consolidated assets of $50 billion or more and nonbank financial companies that the Financial Stability Oversight Council designates for supervision by the Board. This rule is effective November 16, 2012.
In the same Federal Register notice, the Board published different stress test rules that require
financial companies with total consolidated assets of more than $10 billion, and for which the Board is the primary federal financial regulatory agency, to conduct stress tests on an
annual basis. This final rule does not apply to any banking organization with total consolidated assets of less than $10 billion. Furthermore, implementation of the stress testing requirements for bank holding companies, savings and loan holding companies, and state member banks with total consolidated assets of greater than $10 billion but less than $50 billion, is delayed until September 2013.
Click here to read stress test rules for covered companies
Click here to read company-run stress test rules
|
OMB POLICY STATEMENTS
CBO confirms $24 billion Loss on Bailouts
According to CNS News, Barack Obama is still running around and claiming “we got back every dime we used to rescue the financial system.” Like so many other Obama and Biden statements, that is absolutely false: The Congressional Budget Office–based on figures from Obama’s own Office of Management and Budget—gives a different assessment.“The cost to the federal government of the TARP’s transactions (also referred to as the subsidy cost), including grants for mortgage programs that have not yet been made, will amount to $24 billion,” said the CBO report, which was released on the same day Obama spoke.
Click to learn more.
Additional News
disclaimer
Copyright
Notice The Center for Regulatory Effectiveness [Copyright ©
2007]. All right reserved.
|
|