The agency said federal thrifts must abide by the same rules as national banks pertaining to membership in payment systems and codified policies on acceptable derivatives practices among a slew of technical changes.
Five financial regulatory agencies clarified the meaning of "covered funds" under the Volcker Rule. Meanwhile, the FDIC gave certain banks more flexibility in interaffiliate exchanges of swaps and adopted a workaround of a court decision governing interest rates on loans sold across state lines.
Readers react to Sen. Warren's plan to weed out Washington corruption, Facebook CEO Mark Zuckerberg's testimony before Congress, restricting the Federal Reserve's proposed real-time payments system and more.
The plan approved by the Federal Deposit Insurance Corp. Tuesday would require banks to exchange initial margin only in deals involving external swaps parties.
Expanding exemptions for initial margin requirements on swaps transactions “would harm financial stability and U.S. taxpayers,” said the top Democrats on the House and Senate banking panels.
