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ICBA expressed support for a new bipartisan letter from members of Congress urging the Federal Housing Finance Agency to align its capital rules with those of federal banking regulators to avoid penalizing community banks for supporting local communities during the COVID-19 pandemic.
New Letter: The letter from Reps. David Scott (D-Ga.), Blaine Luetkemeyer (R-Mo.), French Hill (R-Ark.), Ann McLane Kuster (D-N.H.), and Sean Casten (D-Ill.) urges the FHFA to avert an unnecessary liquidity crunch that would be wholly attributable to outdated FHFA capital rules.
Background: While banking regulations dictate that banks do not need to recognize a loss until bonds are sold, the Federal Housing Finance Agency employs a "mark-to-market" accounting standard that requires banks to count losses that have not been realized in their capital calculations.
ICBA Recommendations: In a recent letter to the agencies, ICBA offered several approaches to resolve the impact of the agencies’ inconsistent regulations, including an FHFA interim final rule aligning its regulations on tangible capital with those of the banking agencies. Read more.
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The OCC published its assessment rates for the 2023 calendar year, reducing the rates in its general assessment fee schedule and maintaining its 2022 rates for the independent trust and independent credit card fee schedules.
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The Independent Community Bankers of America (ICBA) expressed support for a new bipartisan letter from members of Congress urging the Federal Housing Finance Agency to align its capital rules with those of federal banking regulators to avoid penalizing community banks for supporting local communities during the COVID-19 pandemic.
ImageDec 1, 2022
With FDIC Acting Chairman Martin Gruenberg testifying before Congress that he expects regulators to release a final rule modernizing Community Reinvestment Act regulations during the early part of next year, the Independent Community Bankers of America (ICBA) reiterated its call for the federal banking agencies to issue a uniform rule that minimizes new data collection and reporting burdens for community banks.
ImageDec 1, 2022
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