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The National Credit Union Administration (NCUA) has adopted a final rule to clarify the role of supervisory guidance in regulating credit unions. This rule makes clear that supervisory guidance, unlike laws or regulations, doesn't have the force of law and does not create binding obligations. The NCUA won't take enforcement actions based on supervisory guidance but will use it to communicate expectations and provide examples of best practices. The rule is intended to ensure that guidance remains a helpful tool for both examiners and credit unions without creating legal obligations.

The Department of Labor (DOL) is seeking public comments on a proposed information collection request concerning investment advice for participants and beneficiaries. This request is being reviewed under the Paperwork Reduction Act of 1995, and the public can submit comments until March 8, 2021. The regulation involves requirements for fiduciary advisers who offer investment advice, including disclosures, audits, and maintaining records. The DOL aims to secure approval from the Office of Management and Budget for a period of three years.

The Board of Governors of the Federal Reserve System has decided to extend the use of the Complex Institution Liquidity Monitoring Report (FR 2052a) for another three years without making any changes. This report collects important data from large banking organizations to help the Board monitor their liquidity risks and compliance with financial regulations. The information collected is used to assess potential liquidity problems and ensure safe banking operations. Public comments were invited on this decision, but none were received.

The Depository Trust Company (DTC) has proposed a plan to raise up to $3 billion through the issuance of senior notes, a type of debt, to strengthen its liquidity resources. This is a part of their strategy to ensure they have enough funds to complete financial settlements even if a major participant fails to meet their obligations. By diversifying their sources of liquidity, they aim to reduce dependency on current credit facilities and manage financial risks better. The Securities and Exchange Commission (SEC) is seeking public comments on this proposal.

The Cboe BZX Exchange, Inc. has proposed a new rule to the Securities and Exchange Commission (SEC) to list and trade shares of the BondBloxx Private Credit Trust under BZX Rule 14.11(f), which governs Trust Issued Receipts. This Trust aims to provide returns through distributions of current income by investing in diverse consumer and small business loans and other related assets. It will maintain a portion of its investments in liquid assets to manage redemptions efficiently. The Exchange claims that this rule change will enhance competition in the market to benefit investors.

The Bureau of Consumer Financial Protection has adopted a final rule to clarify that supervisory guidance is not legally enforceable like laws or regulations. This rule, grounded in the 2018 Interagency Statement, ensures the Bureau will not take enforcement actions based on such guidance. The guidance serves as a tool to communicate expectations and improve industry understanding, but it does not create binding legal obligations. Some commenters supported the rule for providing clarity, while others expressed concerns about its impact on supervisory discretion.

The U.S. Department of Energy (DOE) has released a final rule updating the policies and procedures for loan guarantees and direct loans under the Title XVII Program and the Advanced Technology Vehicles Manufacturing Program. The rule aligns with an Executive Order aimed at reducing reliance on foreign critical minerals and includes refined definitions of "Eligible Projects," as well as guidelines for preliminary term sheets, conditional commitments, and third-party payments of costs and fees. The changes are intended to make loan guarantees more accessible for projects involving critical minerals and innovative technologies. Additionally, the rule clarifies that payment of costs and fees by non-Federal third parties is permissible to support applicants.

The Department of Homeland Security (DHS) has finalized a rule allowing the U.S. Immigration and Customs Enforcement (ICE) to send immigration bond-related notices electronically, provided obligors agree to this method of communication. Although no significant changes were made from an earlier interim rule, this final rule clarifies text, updates terminology, and fixes typographical errors. Commenters raised concerns about technical issues, accessibility, and fairness, particularly regarding the new Cash Electronic Bonds Online System (CeBONDS), but the rule aims to make processes more efficient and reduce mail costs. This transition to electronic service is optional, and obligors can still opt for traditional mail service.

In this executive order, the President directs the United States to withdraw from the Paris Agreement and other international climate commitments that may harm the U.S. economy. The policy emphasizes prioritizing American interests and economic growth in global environmental agreements while avoiding unnecessary financial burdens on taxpayers. Additionally, it calls for revoking the U.S. International Climate Finance Plan and instructs relevant agencies to report on actions taken to align with this policy. The order ensures that U.S. foreign energy engagements focus on economic efficiency and promoting American prosperity.

The Office of the Comptroller of the Currency, the Federal Reserve Board, and the Federal Deposit Insurance Corporation issued a report to Congress. As of September 30, 2024, they found no major differences in the accounting and capital standards for the banks they oversee. While there are some minor differences concerning definitions and rules, these do not significantly affect the institutions. The report highlights how certain rules apply differently to specific banking groups due to legal and regulatory requirements.