WASHINGTON—Federal banking regulators have clarified how banks should treat tokenized securities under existing capital rules, signaling that financial institutions can hold certain blockchain-based securities without facing additional capital penalties—so long as the underlying assets are legally identical to traditional securities.
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ALEXANDRIA, Va.--NCUA said Thursday it is continuing its review of agency regulations as part of the decennial process established under the Economic Growth and Regulatory Paperwork Reduction Act (EGRPRA) of 1996.
MCLEAN, Va.--The 30-year fixed-rate mortgage averaged 6.00% this past week, Freddie Mac reported.
WASHINGTON--Credit union advocates carried a unified message to Capitol Hill this week as leagues and institutions fanned out across congressional offices during meetings tied to the Governmental Affairs Conference. Although visits occurred throughout the week, the bulk took place Wednesday following the conclusion of the GAC general session, America's Credit Unions noted.
WASHINGTON--Prior to thousands of credit union advocates heading to Capitol Hill Wednesday, several legislators addressed the Governmental Affairs Conference from the main stage.
WASHINGTON--Despite significant investments in fraud detection tools, consumer education, and data security, credit unions report each year that fraud remains a top concern. Testifying before a House Financial Services subcommittee on behalf of America’s Credit Unions Thursday, Park Community Credit Union General Counsel and Vice President Enterprise Risk Kate McKune will detail all that credit unions already do to protect their members and offer suggestions for lawmakers as they work to address fraud, ACU explained Thursday morning.
KANSAS CITY, Mo.—The Federal Reserve Bank of Kansas City has granted limited master account access to Kraken Financial, marking the first time a cryptocurrency focused firm has received direct connectivity to the Federal Reserve’s payments infrastructure, according to multiple published reports.
WASHINGTON—The Office of the Comptroller of the Currency has finalized a rule designed to streamline licensing requirements for smaller banks, giving qualifying institutions faster and less burdensome approval pathways for certain corporate activities and transactions, including mergers.
WASHINGTON—A bipartisan Senate bill aimed at addressing the nation’s housing shortage would temporarily block the Federal Reserve from issuing a retail central bank digital currency, according to reporting by Finbold.
FRANKFURT, Germany — The European Central Bank has imposed €12.18 million in administrative penalties on J.P. Morgan SE after finding the bank wrongly calculated and reported its risk-weighted assets over multiple years.