FSB Plans Resolution Refinement, New Repo Standards

Renewing much of what it has said in the past, the FSB today released its 2024 official work program. Although the FSB’s head said earlier this week that current FSB resolution standards suffice, global standards are still set to be finalized for resolution reforms, which include a toolkit for CCP resolution authorities to be completed in May as well as publication of a list of insurers subject to the resolution planning standards in December.

CFPB Goes After Fees Banks Have Yet to Charge

Tackling fees it acknowledges banks have yet even to charge, the CFPB today proposed banning NSF fees for real-time non-processed transaction declines such as those at ATMs.

Senate Advances “Nuclear” Asset-Seizure Option

Following a 40-0 vote in the House Foreign Affairs Committee, the Senate Foreign Relations Committee today voted 20-1 (Paul, R-KY) for S.2003, legislation giving the White House clear authority to seize frozen Russian assets to assist Ukraine.