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  • Single-Counterparty Credit Limit Reproposal Could Be Further Improved

    The letter to the Federal Reserve on its reproposal of the single-counterparty credit limit (SCCL) requirement of the Dodd-Frank Act, notes substantial improvements included in the March 2016 reproposal, and details some problematic aspects that still remain that could make the rule needlessly difficult to implement and in some instances unworkable.

  • Industry Files Comment Letter on Standardized Measurement Approach to Operational Risk

    In the letter, to the Basel Committee on Banking Supervision, the associations affirmed their support for the proposed withdrawal of the Advanced Measurement Approach framework.  The letter also offered recommendations on changes that would make the proposed standardized measurement approach more risk-sensitive and reflective of the current banking operational risk environment.


  • 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.

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