RESERVES II: The Fed revamped Regulation R, eliminating outdated provisions. Published Dec. 31. Effective April 1.

SECTION 20: The Fed more than doubled the share of revenue a banking company affiliate may earn from underwriting commercial securities. The revenue earned by Section 20 units may make up 25% of their total revenues. The cap had been 10%. Published Dec. 30. Effective March 6.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.