Banking Agencies Implement Capital Break for Treasury’s CDFI, MDI Support
Facilitating COVID-related relief, the Federal banking agencies today as required issued an IFR providing that preferred stock issued under the Emergency Capital Investment Program (ECIP) qualifies as additional tier 1 capital.

Fed Steps Warily Towards CBDC
Chairman Powell’s comments today make it clear that the Fed is set on CBDC only after extensive study despite strong Congressional pressure to move quickly.

USD LIBOR to Meet Certain Death
FRB Vice Chairman Quarles today said that “there is no scenario in which a panel-based USD LIBOR will continue past June 2023.”