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ARTICLE · 06 DECEMBER 2012

Nutter Bank Report, November 2012

Nutter McClennen & Fish LLP
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The FDIC and the Federal Reserve have issued guidance letters to remind depository institutions that they may no longer rely solely on credit ratings issued by nationally recognized statistical rating organizations.

United StatesFinance and Banking
Kenneth Ehrlich
Kenneth Ehrlich
Michael Krebs
Michael Krebs
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Headlines

  1. Agencies Provide Guidance on Standards of Creditworthiness for Investment Securities
  2. Division of Banks Proposes New Mortgage Servicing and Debt Collection Rules
  3. Interagency Statement Explains New Procedures for Troubled Bank Charter Flips
  4. FFIEC Revises Guidance on Supervision of Technology Service Providers
  5. Other Developments: Regulatory Capital, Deposit Insurance and Mortgage Disclosures

1. Agencies Provide Guidance on Standards of Creditworthiness for Investment Securities

The FDIC and the Federal Reserve have issued guidance letters to remind depository institutions that, effective January 1, 2013, they may no longer rely solely on credit ratings issued by nationally recognized statistical rating organizations to determine whether a particular security is permissible for investment. The letters, Federal Reserve Supervision and Regulation Letter No. SR 12-15 (November 15, 2012) and FDIC Financial Institution Letter No. FIL-48-2012

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