Federal Agencies Release Report on Permissible Banking Activities, Investments

Thursday, September 8, 2016 - 2:00PM

The Federal Reserve Board, the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) today released, “A Report to the Congress and the Financial Stability Oversight Council Pursuant to Section 620 of the Dodd-Frank Act.” The report includes the types of activities and investments that banking entities may engage in under applicable law, including associated risks, applicable risk-mitigation activities and legal limitations, and specific recommendations. The report briefly mentions that when tax credits are available, federal banking entities may use their public welfare investment authority to purchase structured products. 

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