Bankin’ Bits

Monday Regulatory Roundup: Here’s What’s Going on in Washington (2/6)

February 20, 2012 at 4:52 pm Scott Smalley Leave a comment

Financial Derivatives Transactions To Offset Interest Rate Risk;

Investment and Deposit Activities

AGENCY: National Credit Union Administration.

SUMMARY: Through this Advance Notice of Proposed Rulemaking (“ANPR”),

the NCUA Board (Board) requests additional public comments to identify

the conditions for federal credit unions (FCUs) to engage in certain

derivatives transactions for the purpose of offsetting interest rate

risk (IRR).\1\ This ANPR follows an earlier Advance Notice of Proposed

Rulemaking (ANPR I) on derivatives transactions issued for comment (76

FR 37030, June 24, 2011). This ANPR asks additional questions regarding

the conditions under which NCUA may grant authority for an FCU to

engage in derivatives transactions independently.

DATES: Comments must be received on or before April 3, 2012.Compensation, Retirement Programs, and Related Benefits

 

 

Loan Workouts and Nonaccrual Policy, and Regulatory Reporting of

Troubled Debt Restructured Loans

AGENCY: National Credit Union Administration (NCUA).

SUMMARY: NCUA proposes to amend its regulations to require federally

insured credit unions (FICUs) to maintain written policies that address

the management of loan workout arrangements and nonaccrual policies for

loans, consistent with industry practice or Financial Institutions

Examination Council (FFIEC) requirements. The proposed rulemaking

includes guidelines set forth as an interpretive ruling and policy

statement (IRPS) and incorporated as an appendix to the rule that will

assist FICUs in complying with the rule, including the regulatory

reporting of troubled debt restructured loans (TDR loans or TDRs) in

FICU Call Reports. The NCUA Board (Board) believes this proposed

rulemaking and IRPS is timely considering the growth of these types of

loans during the recent economic stresses experienced in the financial

industry.

DATES: Send your comments to reach us on or before March 2, 2012. We

may not consider comments received after the above date in making our

decision on the proposed rule.

 

Compensation, Retirement Programs, and Related Benefits

AGENCY: Farm Credit Administration.

SUMMARY: The Farm Credit Administration (FCA, us, we, or our) proposes

to amend our regulations related to Farm Credit System (System) bank

and association disclosures to shareholders and investors. The proposed

rule would require reporting of supplemental retirement plans, a

discussion of the link between senior officer compensation and

performance, and timely and transparent reporting to shareholders of

significant events that occur between annual reporting periods. We

believe the proposed changes will provide full, transparent and

consistent disclosures to shareholders. The proposed rule would

identify the minimum responsibilities a compensation committee must

perform to ensure it continues to exercise good stewardship, and

require that System banks and associations provide for a nonbinding,

advisory vote on senior officer compensation in order to engage

shareholders in the management and control of their institution. Also,

the proposed rule would bifurcate existing annual reporting

requirements at Sec.  620.5 and make other conforming technical

changes.

DATES: Submit comments on or before March 23, 2012.

Entry filed under: Uncategorized. Tags: .