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  • The Clearing House Announces RTP Advisory Committee

    Today, The Clearing House (TCH) announced it has formed an RTP® Advisory Committee from a diverse set of financial institution stakeholders to obtain input on the operation of its new real-time payments system. The committee is comprised of senior executives from credit unions, community and mid-size banks, and trade associations. The committee is charged with providing perspectives that will help RTP continue to be responsive to all financial institutions and drive adoption of RTP in an effort to achieve the goal of ubiquity by 2020.

     

  • The Clearing House Offers Recommendations to Improve Stress Testing Transparency

    In a comment letter, filed with the Federal Reserve, The Clearing House highlights the need for significantly greater public transparency into key aspects of the Federal Reserve’s stress testing and capital planning framework and offers three recommendations to improve transparency that aim to ensure stress testing continues to serve its prudential purposes but better promotes economic growth, vibrant capital markets, and the global competitiveness of the U.S. banking system.

  • First New Core Payments System in the U.S. in more than 40 Years Initiates First Live Payments

    The Clearing House (TCH) launched RTP®, its real-time payments system, the first new core payments infrastructure in the U.S. in more than 40 years.  The new RTP system was designed and built through the collaborative effort of TCH’s 25 owner banks and meets the objectives of the Federal Reserve Faster Payments Task Force. RTP is open to all U.S depository institutions with a goal of reaching ubiquity by 2020.

  • Mastercard and The Clearing House Partner on Tokenization Solution

    Today, The Clearing House (TCH) and Mastercard announced they are partnering to enable TCH to provision and manage Mastercard-branded tokens on behalf of banks. The partnership with Mastercard establishes TCH as one of the first Mastercard-certified third-party Token Service Providers to enter the US market, and enables TCH to support current and future token capabilities ranging from mobile payments to remote purchases and Internet-of-things (IoT) transactions.

  • The Clearing House Offers Recommendations for Volcker Rule Reform

    In a comment letter filed on September 21 with the Office of the Comptroller of the Currency, The Clearing House (TCH) made recommendations regarding how to more effectively implement the Volcker Rule to better promote lending, banking services, and vibrant capital markets while still ensuring it meets its objective of reducing risk and enhancing bank safety and soundness by restricting excessive risk-taking activities by banks and their affiliates.

  • U.S. AML/CFT System is Broken Says TCH Association President Greg Baer

    In his testimony before the House Financial Services Subcommittee Greg Baer, President of The Clearing House Association (TCH), detailed recommendations The Clearing House recently proposed in a report entitled A New Paradigm: Redesigning the U.S. AML/CFT Framework to Protect National Security and Aid Law Enforcement

  • The Clearing House to Acquire ECCHO

     The Clearing House Payments Company L.L.C. (“The Clearing House”) and the Electronic Clearing House Organization (“ECCHO”) today announced that they have agreed to pursue a strategic opportunity that would transfer the business and operations of ECCHO to The Clearing House. 

  • The Clearing House Publishes New Anti-Money Laundering Report

    The Clearing House released a report entitled A New Paradigm: Redesigning the U.S. AML/CFT Framework to Protect National Security and Aid Law Enforcement.  The paper analyzes the current effectiveness of the AML/CFT regime, identifies fundamental problems with that regime, and proposes a series of reforms to remedy them.

  • New Research Estimates Credit Allocation Encouraged by CCAR Stress Tests

    The Clearing House research note finds that the Federal Reserve’s CCAR stress test is imposing dramatically higher capital requirements on certain asset classes – most notably, small business loans and residential mortgages – than Basel standardized models and banks’ internal models that are approved by the Federal Reserve.

  • Financial Trade Associations Ask Bank Regulators to Reconsider NSFR

    The Clearing House, along with the Securities Industry and Financial Markets, Financial Services Roundtable, American Bankers Association, Institute of International Bankers and  CRE Finance Council submitted a comment letter to bank regulators Friday on the proposed Net Stable Funding Ratio (“NSFR”) rule.  In the letter, the Associations express continued support for the maintenance of stable funding and liquidity profiles by banks, but urge that the NSFR not be implemented in the United States without an analytically sound rationale that considers its marginal benefits and economic costs.

  • Custody Services Provided by Banks are Important to the Safekeeping and Management of Investments

    The Clearing House today issued a white paper, The Custody Services of Banks, which describes the role of bank-chartered custodians.  The paper discusses the services provided by bank-chartered custodians, their relationships with financial market utilities (FMUs), and describes the different risks associated with custody services in comparison to those associated with other banking activities.

  • Industry Files Comment Letter on Standardized Measurement Approach to Operational Risk

    In the letter, to the Basel Committee on Banking Supervision, the associations affirmed their support for the proposed withdrawal of the Advanced Measurement Approach framework.  The letter also offered recommendations on changes that would make the proposed standardized measurement approach more risk-sensitive and reflective of the current banking operational risk environment.


  • Single-Counterparty Credit Limit Reproposal Could Be Further Improved

    The letter to the Federal Reserve on its reproposal of the single-counterparty credit limit (SCCL) requirement of the Dodd-Frank Act, notes substantial improvements included in the March 2016 reproposal, and details some problematic aspects that still remain that could make the rule needlessly difficult to implement and in some instances unworkable.

  • The Clearing House Releases Report on the Core Functions of the Board of Directors

    The Clearing House (TCH) issued a report, The Role of the Board of Directors in Promoting Effective Governance and Safety and Soundness for Large U.S. Banking Organizations, to serve as a resource to both banks and their supervisors about the respective roles of directors and management.  The report highlights the growing responsibilities and emphasis being placed on banking organizations’ board of directors by U.S. regulators.  It also provides recommendations to regulators on how best to address what is often seen as a divergence between the role of the board, which is one of oversight, and regulatory compliance-related expectations for directors which at times may overlap with management’s responsibility. 


  • The Clearing House Calls on the Federal Reserve to Rethink and Add Procedural Protections to Proposed Countercyclical Buffer

    In a letter to the Federal Reserve Board, The Clearing House (TCH) calls for the proposal for implementing a countercyclical capital buffer to be revised to ensure that any future decision to establish a countercyclical capital buffer is subject to notice-and-comment rulemaking, as required by the Administrative Procedure Act.  The letter also suggests that the proposal be empirically grounded.

  • Jack Henry & Associates Partners with The Clearing House to Grow Ubiquity of Real-Time Payments

    Jack Henry & Associates, Inc. (NASDAQ:JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its JHA Payment Solutions™ group today announced a partnership with The Clearing House (TCH) to expand the scope of U.S. financial institutions equipped to send and receive new real-time transactions. 

  • Total Loss Absorbency Requirement to Help Ensure G-SIBs Can Be Resolved

    Late Friday, The Clearing House, the Securities Industry and Financial Markets Association, the American Bankers Association, the Financial Services Roundtable, and the Financial Services Forum submitted comments to the Federal Reserve in response to its proposal to impose  total loss absorbing capacity, long-term debt and related “clean holding company” requirements on global systemically important banking groups (G-SIBs).  The associations express the industry’s strong support for a TLAC requirement for G-SIBs, which is a crucial aspect of ending “Too Big to Fail” by helping ensure that these institutions can be resolved in an orderly way at the expense of creditors and shareholders (and not taxpayers). The associations also assert that the proposal contains a number of requirements that are counterproductive or unnecessary to achieving the Fed’s policy objectives.  In response, the associations provide a number of suggestions aimed at making the proposal more workable and effective. 
     


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