Page 9 - Compliance Monthly - November 2019
P. 9
Proposed Rules
Proposed Rule Comment Period Close Summary
Rule to Amend Swap Margin 30 days from the date Amends swap margin requirements for a registered swap dealer
Requirements the proposal is that is an insured depository institution or is otherwise
published in the Federal supervised by one of the Agencies.
Register.
https://www.fdic.gov/news/news/financial/2019/fil19065.html
Interagency Policy Statement December 16, 2019 The proposed interagency policy statement:(1)Describes the
on Allowances for Credit Losses CECL methodology for determining allowances for credit losses
(ACLs) on financial assets measured at amortized cost (including
loans held for investment and held to maturity debt securities),
net investments in leases, and certain off-balance-sheet credit
exposures in accordance with FASB ASC Subtopic 326-20.
(2)Describes the estimation of an ACL for an impaired available-
for-sale debt security in accordance with FASB ASC Subtopic
326-30.(3)Includes and updates concepts and practices detailed
in the existing December 2006 Interagency Policy Statement on
the Allowance for Loan and Lease Losses (2006 allowance policy
statement) and July 2001 Policy Statement on Allowance for
Loan and Lease Losses Methodologies and Documentation for
Banks and Savings Institutions that remain relevant under FASB
ASC Topic 326.
https://www.fdic.gov/news/news/financial/2019/fil19059.html
Interagency Guidance for Credit December 16, 2019 The proposed guidance discusses sound management of credit
Risk Review Systems risk, a system of independent and ongoing credit review, and
appropriate communication regarding the performance of the
institution's loan portfolio to its management and board of
directors. The proposed guidance updates, as a stand-alone
document, the elements of an effective credit risk review system
currently contained in the Interagency Policy Statement on the
Allowance for Loan and Lease Losses (Attachment 1 - Loan
Review Systems), issued in 2006.
https://www.fdic.gov/news/news/financial/2019/fil19060.html;
https://www.occ.gov/news-issuances/bulletins/2019/bulletin-
2019-49.html
Chartering and Field of December 9, 2019 The NCUA Board (Board) is proposing to amend its chartering
Membership and field of membership (FOM) rules with respect to applicants
for a community charter approval, expansion, or conversion.
Specifically, the Board is proposing to re-adopt a provision to
allow an applicant to designate a Combined Statistical Area
(CSA), or an individual, contiguous portion thereof, as a well-
defined local community (WDLC), provided that the chosen area
has a population of 2.5 million or less.
https://www.ncua.gov/files/publications/regulations/proposed-
rule-chartering-field-membership.pdf
www.accumepartners.com 9
