Latest News

Total Loss Absorbing Capacity (TLAC)

Mar 15, 2016

Material Repercussions and Disruptions for U.S. Banks and Investors: Capital Deductions for Investment in GSIB BHC Senior Debt Disruption to the BHC LTD Market from TLAC LTD Issuance Impact of Capital Buffers on GSIB Market Making Activities Greater Use of LTD in BHC Capital Structures By: Thomas W. Killian, Principal at Sandler O'Neill (212) 466-7709 or tkillian@sandleroneill.com  Read more

Total Loss Absorbing Capacity (TLAC) Letter Sent to Fed

Mar 15, 2016

Attached, please find a letter to the Feds from our friends at Sandler O'Neill Partners, L.P. commenting on Total Loss-Absorbing Capacity, Long-Term Debt, and Clean Holding Company Requirements for Systemically Important U.S. Bank Holding Companies and Intermediate Holding Companies of Systemically Important Foreign Banking Organizations; Regulatory Capital Deduction for Investment in Certain Unsecured Debt of Systemically Important Bank Holding Companies; Proposed Rule. The comment letter was provided by Thomas W. Killian, Principal at Sandler O'Neil who can be reached at tkillian@sandleroneill.com or 212-466-7709.  Read more

New Ways & Means Speaker Named

Nov 07, 2015

On Wednesday, the Republican Steering Committee tapped Representative Kevin Brady (R-TX) to succeed Speaker Ryan as the committee's chairman. Both he and his challenger, Representative Pat Tiberi (R-OH), are strong allies of S corporations and pass-through businesses. Representative Brady takes over from former Chairman Paul Ryan, the new House speaker. Brady, who was first elected to Congress in 1996, will become the seventh Texas Republican to chair a House committee. Several members of the Steering Committee said that while Tiberi is well liked, Brady’s experience was a deciding factor for the gavel.  This was Brady’s second run at the chairmanship, after being passed over for the gavel by Ryan at the beginning of this Congress. The Wall Street Journal had an interview with the new Chairman, where Brady makes clear he wants tohave a robust tax extender package (yea!) this fall than then spend next year pushing the "step one, step two" plan for tax reform outlined by Paul Ryan in the past year: Q: What's the first thing you're going to try to get accomplished this year? A: We're going to continue to tee up pro-growth tax reform. There's two steps we can take that are real, one of them immediate, which is to negotiate a package of permanent provisions among those [expired tax breaks]. One, because it creates certainty for the economy. Two, you get a better bang for the buck for the tax provisions. And three, it's honest scorekeeping. It identifies what truly are permanent parts of the code. I will pick that up and see if we can't conclude a package that works for both parties.  Read more

Hensarling Request GAO Study Reducing Dividends

Sep 12, 2015

With a provision in the Highway Trust Fund reauthorization bill that would reduce the dividends paid on Federal Reserve Bank stock to Federal member banks still being floated as a revenue-raising measure on Capitol Hill, House Financial Services Committee Chairman Jeb Hensarling (R-TX) has asked the Government Accountability Office (GAO) to study the implications of reducing the annual dividend rate that the Federal Reserve pays to member banks. “Hensarling asked GAO to study the historical rationale for the arrangement, the historic rates of return on other government securities, the budget and policy ramifications of reducing the annual dividend or changing it to a floating reference rate and the impact of making the system voluntary instead of mandatory.” “I ask that the GAO engage with all relevant public and private sectors stakeholders, including, but not limited to, relevant federal and state regulatory authorities and affected banking organizations of all sizes.” Hensarling wrote in a Sept. 10 letter to Comptroller General Gene Dodaro. Hensarling-Letter-Fed-Dividend    Read more