Premier Banking Law News and Insights

Board of Governors of the Federal Reserve System ("FRB") Governor Lael Brainard reviewed the current state of prudential financial stability regulation including policies that address "tail risk." Prudential, macroprudential and countercyclical policies, according to Ms. Brainard, are crucial to minimizing the risks that threaten financial stability. In remarks at the Stern School...

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The Consumer Financial Protection Bureau ("CFPB") issued a Request for Information ("RFI") seeking feedback on possible changes to existing rules, as well as the potential adoption of new rules. The RFI was issued specifically to solicit comments on the content of rules, as a previous RFI requested information on rulemaking processes, and future RFIs...

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Chicago Mercantile Exchange & Chicago Board of Trade ("CME Group") will launch monthly and quarterly Secured Overnight Financing Rate ("SOFR") futures on May 7, 2018, pending regulatory review. In June 2017, the Alternative Reference Rates Committee ("ARRC") recommended SOFR, a Treasury repo index, as an alternative to LIBOR. The CME futures are based on the...

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