The Board of Governors of the Federal Reserve System, FDIC, National Credit Union Administration and the Office of the Comptroller of the Currency provided guidance on a new accounting standard introducing a methodology for estimating allowances for credit losses.

The Federal Register published Securities Exchange Act Rule 15Fi-1. The final rule requires security-based swap dealers and majority security-based swap participants to provide counterparties with a trade acknowledgment detailing information specific to a transaction.

The CFTC reopened the comment period on Regulation Automated Trading to permit further consideration of issues raised in a recent roundtable discussion.

FDIC Chair Martin J. Gruenberg asserted that post-crisis reforms have made the financial system more resilient and stable while strengthening the ability of banking organizations to serve the U.S. economy.

Seven Senate Democrats called on the SEC to investigate any possible misconduct by the financial advisors of municipal entities in Puerto Rico during the years that led to the country's current "dire debt crisis."