- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2023-08-30T14:37:00
Federal banking regulators continue to put forward proposed rulemaking after a series of mid-sized bank failures earlier this year exposed apparent gaps in the U.S. regulatory system.
The Federal Deposit Insurance Corporation (FDIC) announced three requests for comment Tuesday regarding rule proposals and guidance largely aimed at curbing the risk of contagion in the event of a massive bank failure, like the ones that occurred at Silicon Valley Bank, Signature Bank, and First Republic Bank in the spring.
The first notice of proposed rulemaking would strengthen the existing resolution planning requirements for insured depository institutions with at least $100 billion in total assets. The proposal would require a resolution submission from covered institutions every two years, with resolution plans expected to incorporate lessons learned from previous plan reviews, among other information.
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Federal banking regulators approved a new rule for bank mergers that will require additional scrutiny of mergers for antitrust issues for large and mid-sized banks.
New York Community Bancorp, a mid-sized bank struggling with precarious commercial loans and troubles with its acquisition of the failed Signature Bank last year, named a new chief risk officer and chief audit executive.
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The U.K. Financial Conduct Authority apologized to investors in peer-to-peer investment firm Collateral for not acting swiftly enough to prevent Collateral from defrauding its customers.
