Austin McComb

1 month ago | mondaq.com | Corey Rose |Austin McComb

The FDIC recently rescinded guidance requiring FDIC-supervisedinstitutions to give notice to the FDIC before engaging incrypto-related activities. Banks regulated by the FDIC may now engage in permissiblecrypto-related activities without prior notice. Permissible crypto-related activities currently include cryptoasset custody, holding stablecoin reserves, acting as nodes on adistributed ledger and engaging in stablecoin activities tofacilitate payments on a distributed ledger.

Jan 9, 2024 | lexology.com | Robert J. Rhatigan |Corey Rose |Austin McComb

Key TakeawaysThe Financial Stability Oversight Council unanimously approved an analytic framework for financial stability risk identification, assessment and response and interpretive guidance on nonbank financial company determinations on November 3, 2023.

May 25, 2023 | jdsupra.com | K. Susan Grafton |Mark D. Perlow |Austin McComb

The Financial Stability Oversight Council on April 21, 2023, released for public comment a proposed analytic framework for financial stability risk identification, assessment and response (Proposed Framework)1 and proposed interpretive guidance on nonbank financial company determinations (Proposed Guidance) (together, Proposals).2 The Proposals would work in concert to alter the processes by which FSOC designates nonbank financial companies (nonbanks) as “systemically important financial...