DOCSLIB.ORG

Via Electronic Filing the Honorable Jacob J. Lew Chairman

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Via Electronic Filing the Honorable Jacob J. Lew Chairman January 16, 2015 Via Electronic Filing The Honorable Jacob J. Lew Chairman Financial Stability Oversight Council 1500 Pennsylvania, Ave., NW Washington, DC 20220 Re: Request for Comments on Asset Management Activities and Products Dear Secretary Lew: Managed Funds Association (“MFA”)1 appreciates the Financial Stability Oversight Council’s (the “Council”) request for public comment on asset management activities and products. MFA plans to submit a separate substantive response to the Council’s request; however, at this time, we request that the Council extend the deadline for comments an additional 90 days. The Council’s request for public comment raises a number of important questions that will require significant review and analysis by industry participants, including our members, in order to provide a thoughtful, comprehensive response that will assist the Council in considering these important issues. Given the breadth of issues raised by the Council and the significance of those issues to capital markets, we do not believe that the 60-day period provided in the release will provide sufficient opportunity for MFA and its members to provide the detailed response that will assist the Council in considering these issues. We also are concerned that a 60-day comment period may limit the number of market participants who are able to respond, which would limit the usefulness of the public comment period, particularly given the diverse nature of the asset management industry. We also would like to raise with you a timing matter on a related subject -- the ongoing review by the Financial Stability Board (the “FSB”) of assessment methodologies for non-bank, non-insurer globally systemically important financial institutions (“GSIFIs”). We understand that the FSB, in conjunction with the International Organization of Securities Commissions (“IOSCO”), 1 The Managed Funds Association (MFA) represents the global alternative investment industry and its investors by advocating for sound industry practices and public policies that foster efficient, transparent, and fair capital markets. MFA, based in Washington, DC, is an advocacy, education, and communications organization established to enable hedge fund and managed futures firms in the alternative investment industry to participate in public policy discourse, share best practices and learn from peers, and communicate the industry’s contributions to the global economy. MFA members help pension plans, university endowments, charitable organizations, qualified individuals and other institutional investors to diversify their investments, manage risk, and generate attractive returns. MFA has cultivated a global membership and actively engages with regulators and policy makers in Asia, Europe, North and South America, and many other regions where MFA members are market participants. The Honorable Jacob J. Lew January 16, 2015 Page 2 of 3 is in the process of preparing a second public consultation paper on this topic, and that the FSB- IOSCO consultation may be released early in 2015. Given the related nature of the FSB-IOSCO work with the Council’s request for public comment, we encourage Council members whose agencies are involved with the FSB-IOSCO project to encourage the FSB and IOSCO to postpone the release of their second consultation paper until after the Council has had the opportunity to review responses to its request for comment. We believe that overlapping comment periods for these related projects could create resource issues for interested parties seeking to respond, which could limit the ability of those parties to provide comprehensive responses to both requests for comment. Further, we believe that postponing the release of the FSB-IOSCO consultation will allow the responses to the Council’s request for comment to help inform the work of the FSB and IOSCO, which we believe will ultimately create a better work product for public review and comment. Conclusion MFA and its members welcome the opportunity to continue discussion of these important topics with the Council and we look forward to providing a thoughtful, constructive, and comprehensive response to the important topics raised by the Council in its request for comments. We believe that extending the comment period by 90 days will better ensure that the Council receives responses from a wide range of market participants that will help inform the Council as it considers these important issues. We further believe that encouraging the FSB and IOSCO to postpone the publication of their second consultation paper on assessment methodologies for non- bank, non-insurer GSIFIs will better ensure robust feedback on both requests for public comment and will allow the results of the Council’s request for comment to help inform the FSB-IOSCO project. If the Council has any comments or questions with respect to this request, please do not hesitate to contact Benjamin Allensworth or the undersigned at +1 (202) 730-2600. Respectfully submitted, /s/ Stuart J. Kaswell Stuart J. Kaswell Executive Vice President and Managing Director, General Counsel The Honorable Jacob J. Lew January 16, 2015 Page 3 of 3 Cc: Janet Yellen, Chair, Board of Governors of the Federal Reserve System Martin J. Gruenberg, Chairperson, Federal Deposit Insurance Corporation Mary Jo White, Chair, Securities and Exchange Commission Timothy Massad, Chairman, Commodity Futures Trading Commission Richard Cordray, Director, Consumer Financial Protection Bureau Melvin Watt, Director, Federal Housing Finance Agency Thomas J. Curry, Comptroller of the Currency, Office of the Comptroller of the Currency Debbie Matz, Chairman, National Credit Union Administration Roy Woodall, Independent Member with Insurance Expertise Richard Berner, Director, Office of Financial Research, Department of the Treasury Michael McRaith, Director, Federal Insurance Office, Department of the Treasury John P. Ducrest, Commissioner, Louisiana Office of Financial Institutions Adam Hamm , Commissioner, North Dakota Insurance Department David Massey, Deputy Securities Administrator, North Carolina Department of the Secretary of State, Securities Division .
Load more

Recommended publications
  • FLEC Public Meeting May 26, 2021 Speaker BIO's
    Financial Literacy and Education Commission Public Meeting May 26, 2021 SPEAKER BIOGRAPHIES Janet L. Yellen, Secretary of the Treasury On January 26, 2021, Janet Yellen was sworn in as the 78th Secretary of the Treasury of the United States. An economist by training, she took office after almost fifty years in academia and public service. She is the first person in American history to have led the White House Council of Economic Advisors, the Federal Reserve, and the Treasury Department. Janet Louise Yellen was born in Bay Ridge, Brooklyn in 1946. Her mother, Anna Ruth, was an elementary school teacher while her father, Julius, worked as a family physician, treating patients out of the ground floor of the family’s brownstone. In 1967, Secretary Yellen graduated from Brown University and went on to earn her PhD at Yale. She was an assistant professor at Harvard until 1976 when she began working at the Federal Reserve Board. There, in the Fed’s cafeteria, she met fellow economist, George Akerlof. Janet and George would marry later that year. They would go on to have a son, Robert, now also an economics professor. In 1980, Secretary Yellen joined the faculty of the University of California at Berkeley, where she became the Eugene E. and Catherine M. Trefethen Professor of Business and Professor of Economics. She is Professor Emeritus at the university. Secretary Yellen’s scholarship has focused on a range of issues pertaining to labor and macroeconomics. Her work on “efficiency wages” with her husband George Akerlof studied why firms often choose to pay more than the minimum needed to hire employees.
    [Show full text]
  • Minutes of Meeting, Held April 20, 2015
    Minutes of the Financial Stability Oversight Council Held April 20, 2015 PRESENT: Jacob J. Lew, Secretary of the Treasury and Chairperson of the Financial Stability Oversight Council (Council) Janet Yellen, Chair, Board of Governors of the Federal Reserve System (Federal Reserve) Martin J. Gruenberg, Chairperson, Federal Deposit Insurance Corporation (FDIC) Mary Jo White, Chair, Securities and Exchange Commission (SEC) Timothy Massad, Chairman, Commodity Futures Trading Commission (CFTC) Richard Cordray, Director, Consumer Financial Protection Bureau (CFPB) Melvin Watt, Director, Federal Housing Finance Agency (FHFA) Thomas J. Curry, Comptroller of the Currency, Office of the Comptroller of the Currency (OCC) Debbie Matz, Chairman, National Credit Union Administration (NCUA) Roy Woodall, Independent Member with Insurance Expertise Richard Berner, Director, Office of Financial Research (OFR), Department of the Treasury (non- voting member) Michael McRaith, Director, Federal Insurance Office, Department of the Treasury (non-voting member) John P. Ducrest, Commissioner, Louisiana Office of Financial Institutions (non-voting member) Adam Hamm, Commissioner, North Dakota Insurance Department (non-voting member) David Massey, Deputy Securities Administrator, North Carolina Department of the Secretary of State, Securities Division (non-voting member) GUESTS: Department of the Treasury Sarah Bloom Raskin, Deputy Secretary of the Treasury Patrick Pinschmidt, Deputy Assistant Secretary and Executive Director of the Council Eric Froman, Deputy Assistant
    [Show full text]
  • NCUA 2012 Annual Report National Credit Union Administration Ncuanational Credit Union Administration
    CRED L IT A N U O N I I T O National Credit Union Administration A N N A D N M I O I N T I S T R A 2012 Annual Report NCUANational Credit Union Administration National Credit Union Administration Office of the Chairman May 14, 2013 To the Members of the Senate Banking and House Financial Services Committees: On behalf of the National Credit Union Administration (NCUA) and in the spirit of transparency, I am pleased to submit NCUA’s 2012 Annual Report for your review. This report reviews the agency’s performance in 2012 and includes the audited financial statements for NCUA’s four permanent funds. These funds include the National Credit Union Share Insurance Fund (NCUSIF), the NCUA Operating Fund, the Central Liquidity Facility, and the Community Development Revolving Loan Fund. NCUA works to foster the safety and soundness of federally insured credit unions. NCUA also works to better enable the credit union community to extend credit for productive and provident purposes to all Americans. Further, NCUA vigorously works to protect the NCUSIF from losses. In its performance, NCUA strives to ensure that credit unions are empowered to make the necessary business decisions to serve the diverse needs of their existing members and potential members. NCUA achieves this objective by establishing a regulatory environment that encourages innovation, flexibility, and continued focus on attracting new members and improving service to existing members. NCUA • developed the agency’s 2012 Annual Report in accordance with the requirements of: • • Section 102(d) of the Federal Credit Union Act; • the Chief Financial Officers Act of 1990; the Government Performance and Results Act of 1993; and the provisions of Section 5 (as amended) of the Inspector General Act of 1978.
    [Show full text]
  • APPENDIX to PETITION for a WRIT of CERTIORARI ______SAM KAZMAN GREGORY JACOB COMPETITIVE ENTERPRISE (Counsel of Record) INSTITUTE [email protected] 1310 L St
    No. ______ IN THE Supreme Court of the United States ____________________ STATE NATIONAL BANK OF BIG SPRING, ET AL., Petitioners, v. STEVEN MNUCHIN, ET AL., Respondents. ____________________ On Petition for a Writ of Certiorari to the United States Court of Appeals for the District of Columbia Circuit ____________________ APPENDIX TO PETITION FOR A WRIT OF CERTIORARI ____________________ SAM KAZMAN GREGORY JACOB COMPETITIVE ENTERPRISE (Counsel of Record) INSTITUTE [email protected] 1310 L St. NW, 7th Floor O’MELVENY & MYERS LLP Washington, DC 20005 1625 Eye Street, N.W. (202) 331-1010 Washington, D.C. 20006 Co-Counsel for Petitioner (202) 383-5300 Competitive Enterprise Institute C. BOYDEN GRAY ADAM R.F. GUSTAFSON ANDREW R. VARCOE JAMES R. CONDE BOYDEN GRAY & ASSOCIATES 801 17th St., NW Suite 350 Washington, D.C. 20006 (202) 955-0620 Attorneys for Petitioners APPENDIX Court of Appeals Summary Affirmance (D.C. Cir. June 8, 2018) ................................ 1a District Court Judgment (D.D.C. Feb. 16, 2018) .................................. 3a District Court Summary Judgment Order (D.D.C. July 12, 2016) .................................. 5a U.S. Const. Art. I, Sec. 9, Cl. 7 (Appropriations Clause) ............................. 24a U.S. Const. Art. II, Sec. 2, Cl. 2 (Appointments Clause) ............................... 25a Excerpts of Dodd-Frank Wall Street Reform and Consumer Protection Act, Title X, §§ 1001-1037 ................................................ 26a Second Amended Complaint (D.D.C. Feb. 13, 2013) ...............................161a Opinion in PHH Corp. v. CFPB, No. 15-1177 (D.C. Cir. Jan. 31, 2018) ............................244a 1a APPENDIX A - COURT OF APPEALS’ SUMMARY AFFIRMANCE United States Court of Appeals FOR THE DISTRICT OF COLUMBIA CIRCUIT No. 18-5062 September Term, 2017 1:12-cv-01032-ESH Filed On: August 3, 2018 State National Bank of Big Spring, et al., Appellants State of South Carolina, et al., Appellees v.
    [Show full text]
  • Minutes of the Financial Stability Oversight Council Held October 8, 2013 PRESENT
    Minutes of the Financial Stability Oversight Council Held October 8, 2013 PRESENT: Jacob J. Lew, Secretary of the Treasury and Chairperson of the Financial Stability Oversight Council (Council) Ben Bernanke, Chairman, Board of Governors of the Federal Reserve System (Federal Reserve) Martin J. Gruenberg, Chairperson, Federal Deposit Insurance Corporation (FDIC) Mary Jo White, Chair, Securities and Exchange Commission (SEC) Gary Gensler, Chairman, Commodity Futures Trading Commission (CFTC) Richard Cordray, Director, Consumer Financial Protection Bureau (CFPB) Edward DeMarco, Acting Director, Federal Housing Finance Agency (FHFA) Debbie Matz, Chairman, National Credit Union Administration (NCUA) Thomas J. Curry, Comptroller of the Currency, Office of the Comptroller of the Currency (OCC) Roy Woodall, Independent Member with Insurance Expertise Richard Berner, Director, Office of Financial Research, Department of the Treasury (non-voting member) Michael McRaith, Director, Federal Insurance Office, Department of the Treasury (non-voting member) John P. Ducrest, Commissioner, Louisiana Office of Financial Institutions (non-voting member) John Huff, Director, Missouri Department of Insurance, Financial Institutions, and Professional Registration (non-voting member) David Massey, Deputy Securities Administrator, North Carolina Department of the Secretary of State, Securities Division (non-voting member) GUESTS: Department of the Treasury Mary J. Miller, Acting Deputy Secretary and Under Secretary for Domestic Finance Christopher J. Meade, General
    [Show full text]
  • National Credit Union Administration
    Description of document: National Credit Union Administration (NCUA) response to November 9, 2011 letter from Senator Tim Johnson, Chairman of the Senate Committee on Banking, Housing and Urban Affairs, asking questions on the regulation of financial institutions Request date: 25-July-2012 Released date: 08-August-2012 Posted date: 21-September-2015 Source of document: Freedom of Information Act Request National Credit Union Administration Office of General Counsel 1775 Duke Street Alexandria, VA, 22314 Fax: 703- 518-6569 Email: [email protected] The governmentattic.org web site (“the site”) is noncommercial and free to the public. The site and materials made available on the site, such as this file, are for reference only. The governmentattic.org web site and its principals have made every effort to make this information as complete and as accurate as possible, however, there may be mistakes and omissions, both typographical and in content. The governmentattic.org web site and its principals shall have neither liability nor responsibility to any person or entity with respect to any loss or damage caused, or alleged to have been caused, directly or indirectly, by the information provided on the governmentattic.org web site or in this file. The public records published on the site were obtained from government agencies using proper legal channels. Each document is identified as to the source. Any concerns about the contents of the site should be directed to the agency originating the document in question. GovernmentAttic.org is not responsible for the contents of documents published on the website. National Credit Union Administration August 8, 2012 Via E-Mail This letter responds to your July 25, 2012 Freedom of Information Act (FOIA) request.
    [Show full text]
  • 2015 Annual Report
    NATIONAL CREDIT UNION ADMINISTRATION 2015 Annual Report www.NCUA.gov 2015 Annual Report CRED L IT A N U O N I I T O A N N A D N M I O I N T I S T R A National Credit Union Administration Office of the Chairman March 15, 2016 To the Members of the Senate Banking and House Financial Services Committees: On behalf of the National Credit Union Administration and in the spirit of transparency, I am pleased to submit NCUA’s 2015 Annual Report for your review. This report reviews the agency’s performance in 2015 and includes the audited financial statements for NCUA’s four permanent funds. These funds include the National Credit Union Share Insurance Fund, the NCUA Operating Fund, the Central Liquidity Facility and the Community Development Revolving Loan Fund. NCUA works to foster the safety and soundness of federally insured credit unions. We also work to better enable the credit union community’s ability to extend credit for productive and provident purposes to all Americans. Further, NCUA vigorously works to protect the Share Insurance Fund from losses. In its performance, NCUA strives to ensure that credit unions are empowered to make business decisions necessary to serve the diverse needs of their existing members and potential members. NCUA achieves this objective by establishing a regulatory environment that encourages innovation, flexibility, and a continued focus on improving service to existing members and attracting new members. NCUA developed the agency’s 2015 Annual Report in accordance with the requirements of: nnSection 102(d) of the Federal Credit Union Act, nnthe Chief Financial Officers Act of 1990, and nnthe Government Performance and Results Modernization Act of 2010.
    [Show full text]
  • When Bank Examiners Get It Wrong: Financial Institution Appeals of Material Supervisory Determinations
    Washington University Law Review Volume 92 Issue 5 2015 When Bank Examiners Get It Wrong: Financial Institution Appeals of Material Supervisory Determinations Julie Andersen Hill University of Alabama School of Law Follow this and additional works at: https://openscholarship.wustl.edu/law_lawreview Part of the Banking and Finance Law Commons, and the Finance and Financial Management Commons Recommended Citation Julie Andersen Hill, When Bank Examiners Get It Wrong: Financial Institution Appeals of Material Supervisory Determinations, 92 WASH. U. L. REV. 1101 (2015). Available at: https://openscholarship.wustl.edu/law_lawreview/vol92/iss5/5 This Article is brought to you for free and open access by the Law School at Washington University Open Scholarship. It has been accepted for inclusion in Washington University Law Review by an authorized administrator of Washington University Open Scholarship. For more information, please contact [email protected]. Washington University Law Review VOLUME 92 NUMBER 5 2015 WHEN BANK EXAMINERS GET IT WRONG: FINANCIAL INSTITUTION APPEALS OF MATERIAL SUPERVISORY DETERMINATIONS† JULIE ANDERSEN HILL ABSTRACT Banks and credit unions sometimes complain that the examination process regulators use to police banking practices is oppressive. These financial institutions complain that regulators reach unduly negative examination conclusions known as “material supervisory determinations.” Institutions are wary because negative determinations can subject an institution to further regulatory scrutiny or enforcement actions. To guard against erroneous determinations, Congress, in 1994, enacted a statute requiring federal financial institution regulators to provide an appeals process. Each of the four regulators (the Office of the Comptroller of the Currency, the Federal Reserve, the Federal Deposit Insurance Corporation, and the National Credit Union Administration) adopted a unique material supervisory determination appeals process.
    [Show full text]
  • Dodd-Frank Wall Street Reform and Consumer Protection Act
    Academy Webinar: Dodd-Frank Wall Street Reform and Consumer Protection Act October 5, 2010 Financial Regulatory Reform Task Force Copyright © 2010 by the American Academy of Actuaries Dodd-Frank Wall Street Reform and Consumer Protection Act October 2010 1 Overview Systemic Risk Regulation Framework Regulation of Derivatives Property and Casualty Industry Reaction and Impacts Other Issues of Interest to Actuaries Copyright © 2010 by the American Academy of Actuaries Dodd-Frank Wall Street Reform and Consumer Protection Act October 2010 2 Participants Jesse Schwartz, FSA, MAAA Chairperson, Financial Regulatory Reform Task Force Guy Barker, ASA, FIA, MAAA Member, Financial Regulatory Reform Task Force Michael Frings, FSA, MAAA Member, Financial Regulatory Reform Task Force Orin Linden, FCAS, MAAA Member, Financial Regulatory Reform Task Force Marianne Purushotham, FSA, MAAA Member, Financial Regulatory Reform Task Force Copyright © 2010 by the American Academy of Actuaries Dodd-Frank Wall Street Reform and Consumer Protection Act October 2010 3 Systemic Risk Regulation Framework Guy Barker ASA, FIA, MAAA Member, Financial Regulatory Reform Task Force Copyright © 2010 by the American Academy of Actuaries Dodd-Frank Wall Street Reform and Consumer Protection Act October 2010 4 Systemic Risk Regulation Framework FSOC: Financial Stability Oversight Council OFR: Office of Financial Research FIO: Federal Insurance Office Copyright © 2010 by the American Academy of Actuaries Dodd-Frank Wall Street Reform and Consumer Protection
    [Show full text]
  • Federal Financial Institutions Exanimation Council Annual Report
    Federal Financial Institutions Examination Council A N N U A L R E P O R T 2011 Board of Governors of the Federal Reserve System, Consumer Financial Protection Bureau , Federal Deposit Insurance Corporation, National Credit Union Administration, Office of the Comptroller of the Currency, State Liaison Committee Federal Financial Institutions Examination Council A N N U A L R E P O R T 2011 Board of Governors of the Federal Reserve System, Consumer Financial Protection Bureau, Federal Deposit Insurance Corporation, National Credit Union Administration, Office of the Comptroller of the Currency, State Liaison Committee MEMBERS OF THE COUNCIL Debbie Matz, Chairman John Walsh, Vice Chairman Daniel K. Tarullo Chairman Acting Comptroller of the Currency Member, Board of Governors of the National Credit Union Administration Office of the Comptroller of the Currency Federal Reserve System Martin J. Gruenberg Richard Cordray John Munn Acting Chairman Director Director, Nebraska Department of Federal Deposit Insurance Corporation Consumer Financial Protection Bureau Banking & Finance LETTER OF TRANSMITTAL Federal Financial Institutions Examination Council Arlington, VA 22226 March 30, 2012 The President of the Senate The Speaker of the House of Representatives Pursuant to the provisions of section 1006(f) of the Financial Institutions Regulatory and Interest Rate Control Act of 1978 (12 U.S.C. § 3305), I am pleased to submit the 2011 Annual Report of the Federal Financial Institutions Examination Council. Respectfully, Debbie Matz Chairman TABLE OF CONTENTS vii Message from the Chairman 1 Overview of the Federal Financial Institutions Examination Council Operations 3 Record of Council Activities 7 State Liaison Report 9 Activities of the Interagency Staff Task Forces 23 The Federal Financial Institution Regulatory Agencies and their Supervised Institutions 32 Assets, Liabilities, and Net Worth of U.S.
    [Show full text]
  • Annual Report
    National Credit Union Administration ANNUAL REPORT Resilience and the Road Ahead 2010 National Credit Union Administration Office of the Chairman September 30, 2011 To the Members of the Senate Banking and House Financial Services Committees: On behalf of the National Credit Union Administration (NCUA) and in the spirit of transparency, I am pleased to submit NCUA’s 2010 Annual Report for your review. This report reviews the agency’s performance in 2010 and includes the audited financial statements for NCUA’s four permanent funds. These funds include the National Credit Union Share Insurance Fund (NCUSIF), the NCUA Operating Fund, the Central Liquidity Facility, and the Community Development Revolving Loan Fund. NCUA works to foster the safety and soundness of federally insured credit unions. NCUA also works to better enable the credit union community to extend credit for productive and provident purposes to all Americans. Further, NCUA vigorously works to protect the NCUSIF from losses. In its performance, NCUA strives to ensure that credit unions are empowered to make the necessary business decisions to serve the diverse needs of their existing members and potential members. NCUA achieves this objective by establishing a regulatory environment that encourages innovation, flexibility, and continued focus on attracting new members and improving service to existing members. NCUA developed the agency’s 2010 Annual Report in accordance with the requirements of: • Section 102(d) of the Federal Credit Union Act; • the Chief Financial Officers Act of 1990; • the Government Performance and Results Act of 1993; and • the provisions of Section 5 (as amended) of the Inspector General Act of 1978.
    [Show full text]
  • Annual Report 2015
    Federal Financial Institutions Examination Council A N N U A L R E P O R T 2015 Board of Governors of the Federal Reserve System, Consumer Financial Protection Bureau, Federal Deposit Insurance Corporation, National Credit Union Administration, Office of the Comptroller of the Currency, State Liaison Committee ii MEMBERS OF THE COUNCIL Richard Cordray, Director, Consumer Financial Protection Bureau; Debbie Matz, Chairman, National Credit Union Administration; Daniel K. Tarullo, FFIEC Chairman, Member, Board of Governors of the Federal Reserve System; Martin J. Gruenberg, FFIEC Vice Chairman, Chairman, Federal Deposit Insurance Corporation; Thomas J. Curry, Comptroller of the Currency, Office of the Comptroller of the Currency; David J. Cotney, Commissioner of Banks, Commonwealth of Massachusetts. iii iv LETTER OF TRANSMITTAL Federal Financial Institutions Examination Council Arlington, VA 22226 March 31, 2016 The President of the Senate The Speaker of the House of Representatives Pursuant to the provisions of section 1006(f) of the Financial Institutions Regulatory and Interest Rate Control Act of 1978 (12 U.S.C. § 3305), I am pleased to submit the 2015 Annual Report of the Federal Financial Institutions Examination Council. Respectfully, Daniel K. Tarullo Chairman v vi TABLE OF CONTENTS ix Chart of Selected Abbreviations xi Message from the Chairman 1 Overview of the Federal Financial Institutions Examination Council Operations 5 Record of Council Activities 7 State Liaison Committee Report 9 Activities of the Interagency Staff Task Forces 25 The Federal Financial Institution Regulatory Agencies and their Supervised Institutions 34 Assets, Liabilities, and Net Worth of U.S. Commercial Banks, Savings Institutions, and Credit Unions as of December 31, 2015 35 Income and Expenses of U.S.
    [Show full text]