FedFin Assessment: Gruenberg’s Fragile Hold

As promised, we here update our analysis of Marty Gruenberg’s political risk following yesterday’s blistering report.

FinCEN Warns re Iran-Proxy Transactions

In a de facto warning to financial institutions, FinCEN today issued an advisory on detecting illicit transactions associated with Iran-backed terrorist organizations.

FRB-KC: Core-Provider Concentration Threatens Small-Bank Competitiveness

Continuing critical Federal Reserve Bank attention to core payment-service providers, the Kansas City Fed today released a brief reinforcing prior findings about the adverse impact of core-provider concentration on payment-system innovation.

Cook Says Powell Makes the End-Game Call

FRB Gov. Cook today largely reiterated findings in the Fed’s most recent financial-stability analysis (see Client Report SYSTEMIC99), but under questioning highlighted several emerging issues.