Premier Banking Law News and Insights

The Federal Reserve Board, the FDIC and the Office of the Comptroller of the Currency's proposal to amend a capital requirement for U.S. banking organizations engaged primarily in custodial activities was published in the Federal Register. Comments on the proposal must be submitted by July 1, 2019. As previously covered, the proposal implements Section...

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During a Financial Stability Board ("FSB") roundtable discussion, global regulators cited progress on the transition away from LIBOR to alternative risk-free, benchmark interest rates. CFTC Chair J. Christopher Giancarlo described growing evidence of a "shift in sentiment" among market participants from "why are we moving away from LIBOR" to "how do we...

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Section 956 of the US Internal Revenue Code ("Section 956") has historically loomed large in the context of finance transactions because it limited the ability of US borrowers to use overseas assets or revenues of foreign subsidiaries as additional collateral or credit support for such transactions. If finalized, recent regulations...

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