Search Results for keywords:"First Bank

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Search Results: keywords:"First Bank

  • Type:Notice
    Citation:86 FR 8012
    Reading Time:about 4 minutes

    The Board of Governors of the Federal Reserve System is extending, without any changes, its Senior Loan Officer Opinion Survey on Bank Lending Practices for three years. The survey, conducted up to six times a year, collects information from senior loan officers at major banks to monitor credit availability and lending practices in the U.S. The information helps the Federal Reserve fulfill its responsibilities under the Federal Reserve Act by keeping track of how lending practices affect the economy and credit markets. The survey is voluntary, maintaining confidentiality for individual responses, while aggregate data is made public.

    Simple Explanation

    The Federal Reserve Board collects feedback from top bank officials a few times a year to see how easy or hard it is for people to get loans. They do this to understand what's happening in the economy and make smart choices, but they promise to keep each person's answers secret.

  • Type:Notice
    Citation:90 FR 11330
    Reading Time:about 25 minutes

    The U.S. Department of Labor has issued an amendment that extends the effective periods of Prohibited Transaction Exemptions (PTEs) for the Royal Bank of Canada and Northern Trust Corporation. These amendments allow certain entities to continue operations without disruption due to legal issues in France related to tax fraud convictions. The extension is until September 4, 2025, or until a final decision is made on their longer-term requests. Both RBC and Northern must adhere to specific conditions to utilize this extended relief.

    Simple Explanation

    The U.S. Department of Labor is letting two big banks, the Royal Bank of Canada and Northern Trust, have more time to deal with some complicated rules so they can keep working while they figure out some problems in another country. The banks must follow some special rules to keep this extra time until September 2025.

  • Type:Notice
    Citation:90 FR 14167
    Reading Time:about 3 minutes

    The Department of Labor (DOL) is asking for public comments on a request to collect information related to Bank Collective Investment Funds under the Prohibited Transaction Class Exemption 1991-38. This information gathering is required to ensure that certain financial transactions involving employee benefit plans comply with the rules and are fair and transparent. The document highlights the importance of the collection, potential burden and cost, and welcomes suggestions for improvement. Comments can be submitted by April 28, 2025, and details on how to submit them are provided in the notice.

    Simple Explanation

    The Department of Labor is asking people to share their thoughts on how banks manage certain money to make sure everything is fair, and they want to know if it's easy or hard for businesses to do what they're being asked. They're looking for ideas on how to make it better and people can let them know by April 28, 2025.

  • Type:Notice
    Citation:89 FR 96652
    Reading Time:about a minute or two

    The Export-Import Bank of the United States (EXIM) is seeking public comments on a proposed information collection effort, as part of its initiative to minimize paperwork and lessen the burden on respondents. This effort involves the Application for Short-Term Multi-Buyer Export Credit Insurance Policy, which EXIM will use to assess eligibility for their assistance. Comments on this proposal can be submitted by January 6, 2025. The form is intended for entities involved in exporting U.S. goods and services, with an expectation of 250 respondents annually, each taking approximately 0.5 hours to complete the form.

    Simple Explanation

    The Export-Import Bank wants to know what people think about their form that helps them decide if they can give support to companies selling things from the United States to other countries. People have until January 6, 2025, to share their thoughts.

  • Type:Notice
    Citation:89 FR 99259
    Reading Time:about a minute or two

    The Export-Import Bank of the United States (EXIM) is inviting public and federal agency comments on a proposed information collection, as part of efforts to reduce paperwork and respondent burden, in accordance with the Paperwork Reduction Act of 1995. This collection involves the Multi-Buyer Select Risk Policy (MBSR) Exclusions Worksheet, which helps users determine their eligibility for EXIM support under the MBSR policy. The worksheet will be available online, and feedback is requested by February 10, 2025. Interested parties can submit comments electronically, by email, or by mail.

    Simple Explanation

    The Export-Import Bank wants to know what people think about a new worksheet for keeping track of who can use their special insurance. They're asking everyone to tell them what they think before February 10, 2025.

  • Type:Rule
    Citation:90 FR 2790
    Reading Time:about 4 hours

    The Securities and Exchange Commission (SEC) has implemented new rules for certain broker-dealers to enhance customer protection. These amendments mandate that broker-dealers with more than $500 million in average total credits must compute and deposit reserve requirements daily, rather than weekly, for funds that belong to customers and other broker-dealers. This change aims to better safeguard customer funds and reduce the risk of financial shortfalls if a broker-dealer were to fail. Additionally, broker-dealers performing daily computations are allowed to reduce their aggregate debit items by 2%, instead of the previous 3%, in their reserve calculations.

    Simple Explanation

    The new rule by the SEC says that some big money-handling companies, like brokers, have to check and put aside money for their customers every day instead of once a week. This helps keep their customers' money safe.

  • Type:Notice
    Citation:90 FR 10924
    Reading Time:about a minute or two

    The Export-Import Bank of the United States (EXIM) is requesting public comments on a proposed information collection related to the Multi-Buyer Select Risk Policy (MBSR) Exclusions Worksheet. This form helps users determine if they qualify for support under the MBSR Policy. Comments are due by March 31, 2025, and can be submitted electronically or by mail. The worksheet is intended to streamline information collection for entities involved in exporting U.S. goods and services.

    Simple Explanation

    The Export-Import Bank wants to know what people think about a new form that helps check if companies can get help selling things from America to other places. They want comments by the end of March 2025.

  • Type:Notice
    Citation:90 FR 13861
    Reading Time:about 4 minutes

    The Board of Governors of the Federal Reserve System is asking the public to comment on a plan to extend, for three more years, the time allowed for holding on to assets gained in settling past debts. This process, identified as FR 4006, requires bank holding companies to seek approval to keep such assets for more than two years. Comments on this proposal must be submitted by May 27, 2025, and can be submitted through the Federal Reserve's website or by other methods like mail or email. The Board will consider feedback to decide if any changes to this proposal are necessary.

    Simple Explanation

    The Federal Reserve wants to know what people think about letting banks hold on to certain things they get when people can’t pay their debts for three more years. They’re asking for comments and will listen to ideas on how to make this plan better or if any changes are needed.

  • Type:Rule
    Citation:86 FR 708
    Reading Time:about 4 hours

    The Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (Board), and Federal Deposit Insurance Corporation (FDIC) have finalized a rule concerning the treatment of certain debt investments by advanced banking organizations. The rule requires these organizations to deduct from their regulatory capital any investments in unsecured debt instruments issued by systemically important banks, known as GSIBs, to meet specific capacity requirements. This rule aims to reduce interconnectedness and systemic risks within the financial system and includes adjustments following public comments on the proposal. Additionally, the rule incorporates several technical amendments and new definitions to its regulatory framework.

    Simple Explanation

    The government has made a new rule for big banks to make sure they don't get too tangled up with each other by telling them to be careful about certain kinds of money they put into other big banks, so they all stay safe and strong.

  • Type:Notice
    Citation:86 FR 9376
    Reading Time:about 75 minutes

    The Department of Labor is considering a proposed exemption that would allow certain asset management affiliates of Deutsche Bank to not be barred from relying on a specific existing exemption, despite a past criminal conviction of a Deutsche Bank subsidiary. This exemption will only apply if the companies meet several conditions, such as not employing any individuals involved in the criminal conduct and maintaining strict compliance policies. This exemption aims to prevent disruptions for retirement and investment plans that use these affiliates, as losing the ability to use the exemption could lead to significant costs and disruptions for these plans. Public comments are being solicited to assess the potential benefits and costs of granting this exemption.

    Simple Explanation

    Imagine if a big bank's team did something wrong, but the rest of the team promised to behave really well. Now, they're asking for special permission so they can still help people with their money without causing problems. They need to make sure everyone knows the rules and follows them closely.