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Interest Rates- US: H15 0.03 2011-03-31 FRB Market yield on U.S. Treasury securities at 5-year constant maturity, quoted on investment basis, inflation-indexed
- US: H15 0.10 2011-03-31 FRB Federal funds effective rate
- US: H15 0.17 2011-03-31 FRB 30-Day AA Nonfinancial Commercial Paper Interest Rate
- US: H15 1.52 2011-03-31 FRB Rate paid by fixed-rate payer on an interest rate swap with maturity of three year.
- US: H15 0.19 2011-03-31 FRB 60-Day AA Nonfinancial Commercial Paper Interest Rate
- Trade (FTC)
- FTC Chairman Issues Commission’s 2011 Annual ReportHighlights Agency Accomplishments to Protect Consumers and Competition […]
- FTC Chairman Issues Commission’s 2011 Annual Report
- Commerce News
- NTIA Testimony on proposed legislation to clarify NTIA and RUS authorityTestimony of Lawrence E. Strickling, Assistant Secretary for Communications and Information, on H.R. _____, a Bill to Clarify NTIA and RUS Authority to Return Reclaimed Stimulus Funds to the U.S. Treasury, before the Committee on Energy and Commerce, Subcommittee on Communications and Technology, United States House of Representatives. […]
- NTIA Testimony on proposed legislation to clarify NTIA and RUS authority
- Small Business News
- Beyond Bankruptcy: Does the Bankruptcy Code Provide a Fresh Start To Entrepreneurs?Landing page summary: The U. S. bankruptcy system is designed to recover funds for creditors while giving bankrupt small businesses an opportunity for a “fresh start.” While a fresh start is a goal of the system, little analysis has been done to evaluate the ability of small firms to reset and thrive after bankruptcy. This paper attempts to fill that gap. T […]
- Beyond Bankruptcy: Does the Bankruptcy Code Provide a Fresh Start To Entrepreneurs?
- Monetary Policy
- Federal Reserve offers $5 billion in 28-day term deposits through its Term Deposit Facility
- FOMC announces tentative 2012 meeting schedule
- Chairman Bernanke will hold press briefings four times per year to present the FOMC's current economic projections and to provide additional context for policy decisions
- Cost Estimates
- S. 193, USA PATRIOT Act Sunset Extension Act of 2011Cost estimate for the bill as reported by the Senate Committee on the Judiciary on March 17, 2011 […]
- H.R. 754, Intelligence Authorization Act for Fiscal Year 2011Cost estimate for the bill as ordered reported by the House Permanent Select Committee on Intelligence on March 10, 2011 […]
- Intelligence Authorization Act for Fiscal Year 2011Cost estimate for the bill as ordered reported by the Senate Select Committee on Intelligence on March 15, 2011 […]
- S. 193, USA PATRIOT Act Sunset Extension Act of 2011
- Banking
- OCC Will Hold Hearing on Charges against Colleen Adams; Agency Seeks Prohibition OrderThe Office of the Comptroller of the Currency (OCC) today announced a public hearing before an Administrative Law Judge beginning Tuesday, April 5, 2011, concerning an enforcement proceeding against Colleen Adams, former Home Loan Consultant for Wachovia Bank, N.A., Cartersville, Georgia. […]
- OCC Will Hold Hearing on Charges against Colleen Adams; Agency Seeks Prohibition Order
Incentive Compensation
Federal financial regulatory agencies request comment on a joint proposed rule to ensure that regulated financial institutions design their incentive compensation arrangements to take account of risk.
The proposed rule, which is being issued pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act, would apply to certain financial institutions with more than $1 billion in assets. It also contains heightened standards for the largest of these institutions.
In prohibiting incentive compensation arrangements that could encourage inappropriate risks, the proposal would require compensation practices at regulated financial institutions to be consistent with three key principles–that incentive compensation arrangements should appropriately balance risk and financial rewards, be compatible with effective controls and risk management, and be supported by strong corporate governance. The proposed rule complements guidance previously issued by the agencies, including guidance on sound incentive compensation policies issued by the banking agencies last year.
The agencies are proposing that financial institutions with $1 billion or more in assets be required to have policies and procedures to ensure compliance with the requirements of the rule, and submit an annual report to their federal regulator describing the structure of their incentive compensation arrangements. The agencies are proposing that larger financial institutions, generally those with $50 billion or more in assets, defer at least 50 percent of the incentive compensation of certain officers for at least three years and that the amounts ultimately paid reflect losses or other aspects of performance over time. For purposes of credit unions, large financial institutions would be defined as those with $10 billion or more in assets. The FHFA proposed that the income-deferral provisions apply to all entities it regulates, regardless of size.
The agencies request comments on the proposed rule within 45 days of its publication in the Federal Register, which is expected soon.