Premier Banking Law News and Insights

On December 30, 2021, the Treasury Department and IRS issued final regulations to address the taxability of modifications that replace LIBOR or another interbank offered rate (an IBOR) with a qualified rate like SOFR. Notably, the final regulations eliminate the proposed regulations' requirement that the modification result in an instrument with a substantially...

Read More

Last week's widely publicized inter-agency squabble between members of the Board of Directors of the Federal Deposit Insurance Corporation (FDIC) has thrown a spotlight on efforts to revise the regulatory framework governing bank mergers in the United States. In response to pressure from the progressive wing of the Democratic Party,1 on...

Read More

The Federal Reserve Board, the FDIC and the OCC (collectively, the "agencies") extended previously issued no-action relief to asset managers and other institutions from certain regulations that limit extensions of credit to "insiders." Regulation O ("Loans to Executive Officers, Directors, and Principal Shareholders of Member Banks") establishes quantitative limits and qualitative restrictions on...

Read More