FFIEC Issues Updated Guidance On Authentication And Access To Financial Institution Services And Systems

On August 11, the Federal Financial Institutions Examinations Council (FFIEC) issued new guidance, providing examples of effective authentication and access risk management principles and practices for financial institutions.  The principles and practices relate to access to digital banking services and information systems by customers, employees, and third parties accessing digital banking services and financial institution information systems.  The FFIEC – whose voting members include representatives from the FDIC, the NCUA, the OCC, the CFPB, the […]

By | September 2nd, 2021 ||

Shearman & Sterling Authors Acquisition Finance Chapter In Latin Lawyer’s The Guide To Mergers & Acquisitions

M&A activity in Latin America has grown significantly in recent decades, and deals are increasingly complex. As part of Latin Lawyer’s The Guide to Mergers & Acquisitions, partner Denise Grant, associates Augusto Ruiloba and Rita Ghanem, and former associate Lisseth Rincon have authored a chapter, “Acquisition Finance in Latin America” in which they discuss important considerations when structuring and financing an acquisition in the region. With local counsel and client input, they cover related trends, […]

By | September 1st, 2021 ||

FRB Releases Large Bank Capital Requirements

The Federal Reserve Board (“FRB”) released individual capital requirements for large banks. The requirements are meant to ensure that the large bank holding companies (“BHCs”) and U.S. intermediate holding companies (“IHCs”) with $100 billion or more in total consolidated assets will hold sufficient capital to ensure that they could survive a “severe recession,” and “still be able to lend” during that recession.

The FRB determined that the large bank capital requirements will include (i) a minimum capital requirement of […]

By | August 30th, 2021 ||