FDIC Exempts Some Custody Funding from Brokered Deposits
As promised in its brokered-deposit rule (see FSM Report DEPOSIT INSURANCE111), the FDIC today published a notice expanding deposit-making exceptions to funds received from third-party custodians without discretion over the IDIs into which funds are placed.
FSB Turns to Insurance Resolutions
The FSB today expanded on longstanding efforts to ensure successful insurance-company resolution, issuing papers on resolution funding, and resolution planning.
Warren Stands Firm Against Powell
As anticipated in our in-depth report earlier today (see Client Report FEDERALRESERVE22), Sen. Warren (D-MA) is not letting upon Chairman Powell. Today, she sent a tough letter reiterating demands for an array of information on Fed-officer trading, reiterating also that she wants an SEC investigation.