The IRS and Treasury Department have published guidance and announced plans to issue regulations for “Trump Accounts,” which are a new type of individual retirement account for children created by Congress earlier this year.

 

The OCC and the FDIC are rescinding the “Interagency Guidance on Leveraged Lending” dated March 21, 2013, and the “Frequently Asked Questions for Implementing March 2013 Interagency Guidance on Leveraged Lending” dated November 7, 2014. The agencies say they expect banks to manage leveraged lending exposures consistent with general principles for safe and sound lending.

 

The OCC is updating guidance that applies to commercial loans to companies in an early, expansion, or late stage of corporate development. The agency's new bulletin refers to these loans as “venture loans” and provides transparency into the OCC’s supervisory approach and application of existing laws, regulations, and guidance. Specifically, the updated guidance reflects the OCC’s policy of not discouraging banks from engaging in prudent venture lending activities.

 

Stay tuned to the Gold Book as we move closer to the New Year and all its new changes!

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