Termination of Citizens National Bank Receivership
The FDIC as Receiver announces the termination of the Citizens National Bank receivership (Fund 10063) located in Macomb, IL. The receivership was established on May 22, 2009, and asset liquidation has been completed. A final dividend payment will be made to proven creditors from available funds. The termination becomes effective no sooner than 30 days from this notice.
M&M Tech Solutions Corp. Cease Directive - Unlicensed Money Transmission
The Massachusetts Division of Banks issued a Cease Directive against M&M Tech Solutions Corp. for conducting unlicensed money transmission activities in violation of M.G.L. chapter 169 and 169B. The company allegedly accepted $7,500 from a Massachusetts consumer for foreign transmission without proper authorization, operating outside its delegated authority as an agent of OMNEX Group, Inc. and Viamericas Corporation.
United Bank Employee Embezzlement Consent Prohibition
The Federal Reserve Board issued a consent prohibition order against Mollie Morrow, former employee of United Bank (Fairfax, Virginia), for embezzlement of bank funds. The enforcement action prohibits Morrow from further participation in banking activities. Financial institutions should review internal controls to prevent similar fraudulent activities by employees.
Monitoring AI Adoption in the US Economy
The Federal Reserve Board released FEDS Notes research by Jeffrey S. Allen examining AI adoption trends in the U.S. economy through 2025. Census Bureau data shows approximately 18 percent of firms have adopted AI by year-end 2025, with work-related Generative AI adoption at 41 percent and 78 percent of the labor force working at AI-adopting firms. The research highlights significant heterogeneity across firm size and industry cohorts, with professional services and financial sectors showing particularly strong adoption rates.
Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company
The Federal Reserve System published a notice on April 3, 2026, addressing the filing requirements for change in bank control notices and acquisitions of shares of banks or bank holding companies. The notice provides procedural guidance on how entities should submit regulatory filings for acquisitions affecting control of banking organizations. This is a routine procedural notice establishing the framework for such filings.
2025 Supervisory Priorities for Federally Insured Credit Unions
NCUA issued Letter 25-CU-01 outlining its 2025 supervisory priorities for federally insured credit unions. Key focus areas include credit risk management, particularly deteriorating credit card and used vehicle loan portfolios where delinquency and charge-off rates exceed levels seen during the global financial crisis. The agency will also examine loan modification and workout strategies for borrowers facing financial difficulty.
NCUA Encourages Credit Union IRS VITA Partnerships
The NCUA issued Letter 21-CU-12 in November 2021 encouraging federally insured credit unions to partner with the IRS Volunteer Income Tax Assistance (VITA) program. VITA offers free income tax preparation and education on refundable credits like the EITC and Child Tax Credit for low-to-moderate income individuals. Credit unions were encouraged to email the IRS by November 15, 2021 to express interest.
Russia Sanctions - Removal of Mikhail Zadornov from SDN List
OFAC removed Mikhail Zadornov from the Specially Designated Nationals (SDN) List under Executive Order 14024 (Russia-related sanctions). The individual was previously listed with the designation RUSSIA-EO14024 and was linked to Public Joint Stock Company Bank Financial Corporation Otkritie. The removal took effect on April 3, 2026.
GENIUS Act Principles for State-Federal Regulatory Equivalence
The Department of Treasury published a notice of proposed rulemaking to implement section 4(c) of the GENIUS Act, establishing principles for determining when a state-level payment stablecoin regulatory regime is substantially similar to the Federal framework. Comments must be submitted by June 2, 2026.
GENIUS Act Principles for State-Level Stablecoin Regulatory Similarity
The Department of the Treasury published a notice of proposed rulemaking to implement section 4(c) of the GENIUS Act, establishing principles for determining when state-level payment stablecoin regulations are "substantially similar" to the federal framework. Comments must be submitted by June 2, 2026 under docket TREAS-DO-2026-0232. This rule affects payment stablecoin issuers and state regulatory regimes.
Local Assistance and Tribal Consistency Fund Information Collection
The U.S. Department of Treasury published a notice inviting public comments on revisions to the Local Assistance and Tribal Consistency Fund (LATCF) information collection (OMB Control No. 1505-0276). Comments are due June 2, 2026. The LATCF program distributes approximately $2 billion in funding to eligible tribal governments and revenue sharing counties under the American Rescue Plan Act.
Deputy General Counsel Appointments
CFTC Chairman Michael S. Selig announced Stephen D. Andrews and M. Jordan Minot as Deputy General Counsel for regulation and litigation, respectively. Andrews joins from the U.S. Senate where he served as General Counsel to Senator Josh Hawley; Minot comes from the Virginia Attorney General's Office. Both will lead branches in the CFTC General Counsel's office.
Consolidated Reports Q1 2026 Call Report Filing
FDIC issued FIL-10-2026 reminding FDIC-insured financial institutions of the Q1 2026 Call Report submission deadline of April 30, 2026 (May 5, 2026 for institutions with foreign offices). The filing confirms no new data items or revisions to FFIEC 031, 041, or 051 Call Report forms this quarter. Institutions should review attached Supplemental Instructions for guidance on early adoption of the enhanced supplementary leverage ratio rule.
Bank CRA Compliance Examination List
The FDIC issued its monthly list of state nonmember banks examined for Community Reinvestment Act (CRA) compliance, covering January 2026 evaluation ratings. The list includes publicly available CRA evaluation ratings assigned to approximately 17 institutions. Banks are required to make their individual CRA evaluations available upon request.
Notice to All Interested Parties of Intent To Terminate Receivership
The Federal Deposit Insurance Corporation published a notice of intent to terminate a receivership affecting 847 units. This routine administrative notice informs interested parties about the planned termination of the receivership estate. No specific failed institution is named in the notice.
ISO 20022 CBPR+ Address Structuring Deadline November 2026
SWIFT announced that the CBPR+ ISO 20022 migration achieved 97% adoption as of November 2025. A new requirement mandates removal of unstructured postal addresses from CBPR+ payment messages by November 2026. After this date, only fully structured or hybrid postal addresses will be accepted; payments with non-compliant addresses may be rejected or delayed by PSPs. Standards Release 2026 Usage Guidelines were published February 20, 2026.
Research Report on Third-Party Cybersecurity Risk Management for Financial Institutions
Japan's Financial Services Agency published a research report on third-party cybersecurity risk management for financial institutions. The FSA commissioned Deloitte Tohmatsu Cyber LLC to examine management practices among major banks and large insurance companies in the United States, European Union, and United Kingdom. The report provides provisional English translations for industry reference.
Floating Rate Savings Bonds 2020 - Operational Guidelines
The Reserve Bank of India has issued revised operational guidelines for Floating Rate Savings Bonds 2020 (Taxable), superseding the June 2020 guidelines. The new guidelines cover procedures for bond issuance, servicing, nomination, interest payments, premature encashment, claims processing, audit compliance, and grievance redressal. The guidelines come into effect immediately and apply to all Receiving Offices authorized to handle these government securities.
Rupee Exchange at International Airport Forex Counters
The Reserve Bank of India has amended the Master Direction on Money Changing Activities to permit residents to exchange Indian Rupee notes at foreign exchange counters located in departure halls of international airports beyond Immigration or Customs desks. The circular extends this facility to Duty-Free Areas and Security Hold Areas. Authorised Persons must update procedures and notify customers of the expanded exchange options.
Hedge Fund Manager Swap Valuation Fraud Enforcement
The CFTC obtained a federal court order granting summary judgment against James R. Velissaris, former hedge fund manager of Infinity Q Capital Management LLC, for a multi-year swap valuation fraud scheme. Velissaris was ordered to pay $2.2 million in civil monetary penalties and permanently barred from CFTC-regulated markets and trading. The scheme inflated fund net asset values through manual adjustments to independent pricing systems, resulting in over $125 million in excess fees to investors.
CFTC Sues States to Reaffirm Exclusive Jurisdiction Over Prediction Markets
The Commodity Futures Trading Commission filed lawsuits against Arizona, Connecticut, and Illinois challenging state actions that restrict prediction market activities by CFTC-registered designated contract markets. The suits seek declaratory and injunctive relief to reaffirm CFTC's exclusive jurisdiction over event contracts under the Commodity Exchange Act. The CFTC is defending its regulatory authority against what it characterizes as overzealous state regulators attempting to impose inconsistent obligations on market participants.
Exchange Fund Bills Tender Results
The Hong Kong Monetary Authority published Exchange Fund Bills tender results for three issues (Q2614, H2643, Y2688). Total applications amounted to HK$211.891 billion with HK$93.44 billion allotted. Average yields accepted ranged from 1.99% to 2.23% across maturities from July 2026 to April 2027. The HKMA also announced upcoming tenders for the week beginning 13 April 2026.
Strait View Merges with Great NorthWest Federal Credit Union
NCUA filed notice of merger between Strait View Credit Union and Great NorthWest Federal Credit Union. The merger was processed under docket NCUA-2026-0760 and filed on February 18, 2026. This represents a routine corporate consolidation within the federally regulated credit union system.
Strait View Credit Union Member Notice
NCUA received a member notice filing from Strait View Credit Union on April 2, 2026. The notice was submitted to regulations.gov under docket NCUA-2026-0760-0002 as part of routine credit union member communications requirements. This filing does not constitute new regulatory requirements or policy changes.
NCUA Board Meeting - Brokered Deposits, Deregulation Project, Strategic Plan
The NCUA announced an open Board meeting on April 9, 2026 at 10 a.m. Eastern at agency headquarters in Alexandria, VA. The agenda includes briefings on brokered and reciprocal deposits, the NCUA Deregulation Project, and the 2026-2030 Strategic Plan and Annual Performance Plan. The meeting will be livestreamed and related documents will be posted to the NCUA website at meeting start.
Government Stock Auction Results: Cut-off Prices
The Reserve Bank of India conducted a government stock auction on April 2, 2026, successfully raising ₹29,000 crore through two tranches. The 6.68% GS 2040 tranche (₹17,000 crore) was accepted at a cut-off price of ₹92.63 (implicit yield 7.5303%), while the 7.43% GS 2076 tranche (₹12,000 crore) was accepted at a cut-off price of ₹94.38 (implicit yield 7.8812%). Devolvement on Primary Dealers was NIL for both tranches.
Treasury Bill Auction - 24000 Crore Rupees
The Reserve Bank of India announced an auction of Government of India Treasury Bills totaling ₹24,000 crore to be held on April 8, 2026. The auction includes ₹12,000 crore of 91-day bills, ₹6,000 crore of 182-day bills, and ₹6,000 crore of 364-day bills, with settlement on April 9, 2026.
Q1 FY27 State Government Borrowing Calendar
The Reserve Bank of India published the indicative Q1 FY27 market borrowing calendar for State Governments and Union Territories totaling ₹2,54,509 crore. A Benchmark Issuance Strategy (BIS) pilot launches with nine States (Andhra Pradesh, Bihar, Chhattisgarh, Kerala, Madhya Pradesh, Maharashtra, Rajasthan, Telangana, and Uttar Pradesh) to enhance transparency in market borrowings.
RBI Underwriting Auction Results Government Securities
The Reserve Bank of India announced results of an underwriting auction conducted on April 2, 2026, for Additional Competitive Underwriting of government securities totaling ₹29,000 crore. Two securities were underwritten: ₹17,000 crore of 6.68% GS 2040 and ₹12,000 crore of 7.43% GS 2076. Cut-off commission rates were set at 7.40 and 10.10 paise per ₹100 respectively.
FRB 2028 Interest Rate Set at 6.17%
The Reserve Bank of India announced that the interest rate on the Government of India Floating Rate Bond 2028 (FRB 2028) will be 6.17% per annum for the half year April 4, 2026 to October 3, 2026. The rate is calculated based on the average Weighted Average Yield of the last three 182-Day Treasury Bill auctions plus a fixed spread of 0.64%.
Government Bond Auction Results 6.68% GS 2040 and 7.43% GS 2076
The Reserve Bank of India published full auction results for two government stock tranches: ₹17,000 crore of 6.68% GS 2040 and ₹12,000 crore of 7.43% GS 2076. Both auctions achieved 99.92% and 99.88% of notified amounts respectively. The 6.68% GS 2040 attracted 240 competitive bids totaling ₹32,591.30 crore with a cut-off yield of 7.5303%, while the 7.43% GS 2076 received 120 bids worth ₹26,999 crore at a cut-off yield of 7.8812%.