Because the purpose of TRACE is to help facilitate transparency in the U.S debt market, each TRACE trade report is required to contain the following information: Committee on Uniform Securities Identification Procedures (CUSIP) number, or if a CUSIP number is unavailable at the time of execution, a similar numeric identifier. Examples include a mortgage pool […]
Posts Tagged ‘Regulatory Reporting in Financial Services’
When and by Whom Should TRACE Transactions Be Reported? (Part 4 of 6)
So far in our 6-part blog series explaining the intricacies of TRACE, we have defined TRACE reporting, detailed the prep work to be done in order to effectively report TRACE transactions, and reviewed considerations for alternative trading systems. Now, for part 4 of the series, we will delve into the details of when and by […]
Preparing to Report TRACE Transactions (Part 2 of 6)
FINRA member participation in TRACE is mandatory and obligates members to submit transaction reports in TRACE-eligible securities to conform with the Rule 6700 Series. Getting started requires a member to complete a FINRA Transparency Services Participation Agreement (FPA) version 1.4, found on the FINRA website, and then submit the signed form via the FINRA Firm […]
What is TRACE Reporting? (Part 1 of 6)
In my over thirty years of experience in the financial services industry, I have learned a thing or two about completing, reviewing, and filing various types of reports — some of which have extremely tight restrictions and constraints to which the reporter must abide. This blog marks the first of a six-part series that will […]
OCC Releases Latest CRA Evaluations for March 2022
The Office of the Comptroller of the Currency (OCC) has released 11 Community Reinvestment Act (CRA) performance evaluations. These evaluations are based upon on-site examinations performed by OCC-trained staff that are conducted every other year, and they assess an institution’s performance in helping to meet the specific credit needs of the communities they serve. This […]
OCC Sets 2022 Assessment Schedule
So, you’re the CEO of a national banking corporation or a national savings bank. Therefore, your primary federal bank regulator is the Office of the Controller of the Currency (OCC). The OCC conducts frequent on-site examinations as they investigate, prepare, and then issue its reports of examination. Not only do you and your staff get […]
OCC Provides Roadmap for National Banks and Savings Associations To Conduct Crypto Activities
The Office of the Comptroller of the Currency (“OCC”) issued a letter (1179) that national banks and federal savings associations must demonstrate that they have adequate controls in place before they can engage in cryptocurrency, distributed ledger, and stablecoin activities. The OCC had issued multiple Interpretive Letters in 2020 and earlier this year related to […]
Growing Past $50 Billion: What Banks Need To Know About Section 165 of the Dodd-Frank Act
Section 165(a) of the Dodd-Frank Act requires the Federal Reserve to establish “enhanced supervision and prudential standards” for bank holding companies with more than $50 billion assets. This scrutiny level is stronger than the standards applicable to smaller institutions and increases based on a bank holding company’s unique riskiness. A. Standards the Federal Reserve Must […]
OCC Releases CRA Evaluations for 16 National Banks and Federal Savings Associations
The Office of the Comptroller of the Currency (OCC) has released 16 Community Reinvestment Act (CRA) performance evaluations. These evaluations are based on on-site examinations by OCC-trained staff. On-site examinations are done every other year. The reviews, which can take weeks for small banks and months for large banks, assess an institution’s performance in helping […]
OCC Releases Community Reinvestment Act (CRA) Evaluations
The Office of the Comptroller of the Currency (OCC) has released 15 Community Reinvestment Act (CRA) performance evaluations. These evaluations are based on on-site examinations by OCC-trained staff. On-site examinations are done every other year. Reviews, which can take weeks, assess an institution’s performance in helping to meet the credit needs of communities, including those […]
Tools for Reporting with the FR 2052a Complex Institution Liquidity Monitoring Report
Previously, I outlined the data that can be reported with the FR 2052a Complex Institution Liquidity Monitoring Report. My next blog will review the tools that can be used to help with reporting. With the need to consolidate entities on a line-by-line basis and to report such a large amount of information, whether on a […]
Data to Be Reported with the FR 2052a Complex Institution Liquidity Monitoring Report
In my last blog I discussed the consolidations required for success with the FR 2052a Complex Institution Liquidity Monitoring Report. My next blog will outline the data that can be reported. The FR 2052a report collects data for 10 distinct tables covering 115 product types, 14 counterparty types, 72 asset classes, and 75 maturity buckets […]