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  • The Clearing House Releases Report on the Core Functions of the Board of Directors

    The Clearing House (TCH) issued a report, The Role of the Board of Directors in Promoting Effective Governance and Safety and Soundness for Large U.S. Banking Organizations, to serve as a resource to both banks and their supervisors about the respective roles of directors and management.  The report highlights the growing responsibilities and emphasis being placed on banking organizations’ board of directors by U.S. regulators.  It also provides recommendations to regulators on how best to address what is often seen as a divergence between the role of the board, which is one of oversight, and regulatory compliance-related expectations for directors which at times may overlap with management’s responsibility. 


  • The Clearing House Calls on the Federal Reserve to Rethink and Add Procedural Protections to Proposed Countercyclical Buffer

    In a letter to the Federal Reserve Board, The Clearing House (TCH) calls for the proposal for implementing a countercyclical capital buffer to be revised to ensure that any future decision to establish a countercyclical capital buffer is subject to notice-and-comment rulemaking, as required by the Administrative Procedure Act.  The letter also suggests that the proposal be empirically grounded.

  • Jack Henry & Associates Partners with The Clearing House to Grow Ubiquity of Real-Time Payments

    Jack Henry & Associates, Inc. (NASDAQ:JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its JHA Payment Solutions™ group today announced a partnership with The Clearing House (TCH) to expand the scope of U.S. financial institutions equipped to send and receive new real-time transactions. 

  • Total Loss Absorbency Requirement to Help Ensure G-SIBs Can Be Resolved

    Late Friday, The Clearing House, the Securities Industry and Financial Markets Association, the American Bankers Association, the Financial Services Roundtable, and the Financial Services Forum submitted comments to the Federal Reserve in response to its proposal to impose  total loss absorbing capacity, long-term debt and related “clean holding company” requirements on global systemically important banking groups (G-SIBs).  The associations express the industry’s strong support for a TLAC requirement for G-SIBs, which is a crucial aspect of ending “Too Big to Fail” by helping ensure that these institutions can be resolved in an orderly way at the expense of creditors and shareholders (and not taxpayers). The associations also assert that the proposal contains a number of requirements that are counterproductive or unnecessary to achieving the Fed’s policy objectives.  In response, the associations provide a number of suggestions aimed at making the proposal more workable and effective. 
     


  • TCH Updates Guiding Principles on Anti-Money Laundering Policies and Correspondent Banking Procedures

    The Clearing House Association (TCH) today published a final updated version of its Guiding Principles for Anti-Money Laundering Policies and Procedures in Correspondent Banking. The Guiding Principles, which were initially published in 2002, are intended to provide guidance to U.S. banks engaged in foreign correspondent banking and to assist U.S. banks in implementing key anti-money laundering (AML) procedures.

  • TCH Lauds Federal Reserve Progress Spurring Improvements in Payments

    The Clearing House (TCH) today welcomed the release of a report by the Federal Reserve outlining its progress in support of improvements to the U.S. payment system.  The Clearing House is the only ACH (automated clearing house) and wire operator in the U.S. other than the Federal Reserve, and TCH is currently working to build a new, ubiquitous real-time payment system.  As part of its effort, TCH worked to align its new real-time system with the Federal Reserve’s efforts to improve the U.S. payments system.

  • TCH Announces Acquisition of The Payments Authority

    The Clearing House Payments Company acquired The Payments Authority, a Michigan based regional payments association. Located throughout the U.S., Puerto Rico, Virgin Islands, and Guam, regional payments associations (RPAs) are specially recognized providers of payments education, publications and support, historically focused on ACH. Following the acquisition, The Payments Authority will be combined with The Clearing House’s existing RPA, with the resulting RPA organization doing business as The Clearing House Payments Authority.

  • VocaLink and The Clearing House sign a groundbreaking deal to deliver national real-time payment services in the U.S.

    VocaLink, the UK-based international payment systems provider, has signed a contract with The Clearing House (TCH) to develop a national real-time payment service in the U.S. In October, the two companies announced they had signed a letter of intent, and today’s contract signing finalizes the partnership and clears the way for work to build the system to begin immediately.

  • The Clearing House Urges Better Public-Private Coordination to Bolster Anti Money Laundering Efforts

    The Clearing House (TCH) provided recommendations to the Committee on Payments and Market Infrastructures (CPMI) in response to CPMI’s recent report on concerns about the safe and efficient functioning of the correspondent banking market and potential measures to improve the correspondent banking environment.  In its letter, TCH agreed that technical improvements to information sharing and similar anti-money laundering and counterterrorism financing tools may be helpful in improving access to correspondent banking services.  However, TCH also stressed that it is just as important that policymakers and banks work together to better and more clearly define the roles and responsibilities of various stakeholders.

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