Yellen: Innovation is Essential, Must Be Inclusive, Equitable
Late yesterday, the Treasury Department released Secretary Yellen’s remarks emphasizing the critical importance of innovation to protect privacy, enhance AML enforcement, and prevent cryptography abuse.

FDIC Grants Recordkeeping Relief as COVID Continues
Reflecting ongoing pandemic stress, the FDIC today issued two time-limited exceptions from the rules governing recordkeeping for timely deposit insurance determination.

FRB-NY Staff: TBTF Subsidy Rises Under Pandemic Stress, Government Interventions
The Federal Reserve Bank of New York’s blog today released a post concluding that the global TBTF subsidy as measured by equity prices believed to back GSIBs increased following COVID and resulting financial stress last year.

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