Governor Whitmer Executive Order 2020-187 (COVID-19) www.michigan.gov/whitmer/0,9309,7-387-90499_90705-540835–,00.html Michigan Coronavirus Resources – Executive Orders & Directives www.michigan.gov/coronavirus/0,9753,7-406-98178_98455—,00.html Yes. On April 16, 2020, the FFIEC, on behalf of its member agencies, announced the availability of FFIEC federal disclosure information technology tools, including the Annual Percentage Rate of Charge (APR) Calculator and the Annual Percentage Return (APY) Calculator. FFIEC member organizations collaborated on the development of federal IT disclosure tools, which will assist financial institutions in their efforts to comply with consumer protection laws and regulations. Capstone – Legal Issues in Finance and Banking — Finance and banking executives operate in an environment full of legal risks. Financial companies are highly regulated, subject to strict supervision and are often the subject of litigation. For leaders in these fields, the ability to identify, evaluate and develop legal risk management strategies is essential. This capstone course challenges students to integrate concepts from the BBA program to manage legal risk in finance and banking. Students synthesize concepts from finance, strategy, business organizations, communication, and ethics to analyze real-world business problems. This capstone course is recommended for students who wish to pursue a career in investment banking, financial services, consulting, or law. On April 6, 2020, the agencies adopted two provisional final rules. The first rule provides that from the second quarter of 2020, a banking organization with a leverage ratio of 8% or more that meets the other existing qualification criteria may choose to use the CBLR framework. It also establishes a two-quarter grace period for a qualified community banking organization whose leverage ratio is below the CBLR requirement of 8%, as long as the banking organization maintains a leverage ratio of 7% or more.
Yes. Section 4012 of the CARES Act requires Bundesbank authorities to temporarily reduce the CBLR to 8% by December 31, 2020 or the date on which the declaration of national coronavirus emergency ends. It also required agencies to provide a reasonable grace period if a community bank`s CBLR falls below the required level. Michigan State Coronavirus Resources www.michigan.gov/coronavirus Yes. Banks must comply with all applicable conditions of Governor Whitmer`s Executive Orders, Michigan Occupational Safety and Health Administration (MIOSHA) emergency rules, and Michigan Department of Health and Human Services (MDHHS) epidemic regulations, and take aggressive measures to minimize the spread of the coronavirus through social distancing practices and other measures to protect workers and customers. Prudent measures include restricting access to the lobby, providing drive-thru services, and promoting the use of alternative service options. Banks may want to remind customers of the different ways they can access banking services, such as: managing their accounts online or using a mobile banking app, transacting at an ATM, or using telephone banking, if applicable. Financial institutions can also provide information on bill payments and mobile remote deposit services. Where personal services are required, such as access to a locker, social distancing practices should continue to be implemented where possible. John Lawrence has extensive experience in banking, financial services and corporate finance, with a particular focus on government regulation of financial institutions as well as domestic and international commercial lending. He advises custodians and holding companies on government regulation of their structure, operations and transactions, including mergers and acquisitions of financial institutions and the establishment of U.S. and foreign subsidiaries.
He also advises on finances. Yes. On 9 April 2020, the Bundesbank authorities published a provisional final regulation amending the capital requirements of agencies in order to neutralise the regulatory capital effects of participation in the Federal Reserve`s PPP liquidity facility, as there is no credit or market risk associated with PPP loans secured to the facility. In line with current agency capital requirements and CARES requirements, the provisional final rule also clarifies that a zero percent risk weight applies to loans covered by PPPs for capital purposes.
