In what had to be expected, yet no less frightening news, the Federal Reserve Board published their standards on implementing new key areas of the Dodd-Frank reform.

Per American Banker Magazine:

The Federal Reserve Board’s 173-page proposal — considered by industry analysts to be the core of new rules required by the Dodd-Frank Act — would apply to all bank holding companies with more than $50 billion of assets as well as nonbank financial firms designated as systemically important by the Financial Stability Oversight Council.

This is important twofold; first for the obvious reason that these new opnions written by the regulators will like ly be the gospel by which all the federal examiners are to bring to the heathen banks with more than 50 billion in assets. A new set of marching orders will likely be out soon as well for mid size holding companies, adding to the regulatory reform that has already been published on the subject. Secondly, this is going to be interesting to see how these statutes impact actual business. If this has real impact then it will have succeeded where many had hoped it would fail. Otherwise it is simply another giant tome on top of a compliance official’s desk.

 

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