Search Results for keywords:"Comptroller of the Currency"

On December 11, 2020, the Office of the Comptroller of the Currency (OCC) published a final rule aimed at updating regulations for national banks and Federal savings associations to improve clarity, safety, and efficiency, while eliminating unnecessary requirements. A subsequent correcting amendment, effective January 11, 2021, addresses missing information and corrects three typographical errors within the final rule. These technical changes do not alter the substance of the regulations and were implemented without requiring the usual public notice and comment process, based on the OCC's determination that such steps were unnecessary. The OCC also ensured that the rule would take effect promptly, waiving typical delays because the changes increase compliance flexibility and reduce burdens for regulated institutions.

The Office of the Comptroller of the Currency, the Federal Reserve Board, and the Federal Deposit Insurance Corporation have finalized a rule called the Net Stable Funding Ratio (NSFR). This rule is designed to ensure large banking organizations maintain stable funding over a one-year period to support their various financial activities. By requiring stable funding, the rule aims to reduce liquidity risks, ensuring banks can continue to operate smoothly even in challenging economic conditions. This rule applies to large U.S. banks and some foreign banks with significant assets, enhancing the overall stability of the financial system.