Search Results for keywords:"guidelines"

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Search Results: keywords:"guidelines"

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  • 2024-28866 — Guidelines and Limitations for Settlement Agreements Involving Payments to Non-Governmental Third Parties
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    Type:Rule
    Citation:89 FR 97525
    Reading Time:about 70 minutes

    The Department of Justice (DOJ) has finalized a rule that allows settlement agreements to include payments or loans to non-governmental third parties who are not part of the dispute, under certain conditions. This rule revokes a 2020 regulation that prohibited such payments. Despite some public concerns about fairness and legality, the DOJ maintains this new rule will enable more effective settlements by compensating victims and addressing harms. The rule also includes guidelines such as ensuring a strong connection between the payment and the violation and restricting government involvement after the settlement.

    Simple Explanation

    The rule says that when people or companies settle a legal dispute, they can sometimes pay money to someone not directly involved, like community groups, to help fix things. It tries to make sure these payments are connected to what went wrong and stops the government from getting too involved afterward.

  • 2024-29250 — Guidelines for Evaluating Account and Services Requests
    Type:Notice
    Citation:89 FR 100495
    Reading Time:about 6 minutes

    The Board of Governors of the Federal Reserve System has provided final guidance clarifying that its existing Guidelines for accessing accounts and services at the Federal Reserve Banks now include Excess Balance Accounts (EBAs). This means that EBAs, which allow eligible institutions to earn interest on surplus funds without affecting correspondent-respondent bank relationships, must adhere to the same risk-based principles and review standards as other accounts and services. The change prevents entities that don't qualify for standard Federal Reserve accounts from accessing the Reserve Bank's balance sheet indirectly through EBAs. Implementation of this guidance begins on December 12, 2024.

    Simple Explanation

    The Federal Reserve has made a rule that helps banks save their extra money safely and with interest, but they must follow the same rules as their other accounts to keep everything fair and honest.