Bowman Again Targets Pilot Climate Scenario Analysis

FRB Gov. Bowman criticized the Fed’s pilot climate scenario exercise as a “regulatory distraction,” again also warning against the cumulative effect of recent banking regulatory proposals.

Fed Takes Tougher Attitude to Bank Supervisory Rating, Finds Significant Weakness in Large Banks

Reiterating its concern about CRE, the Fed’s semiannual supervisory reportindicated that the number of large financial institutions receiving satisfactory or better ratings went down from about a half to about a third during the second half of 2023.

FSOC Demurs on Nonbank Mortgage Designation, Recommends Statutory Change Instead

Although FSOC last November (see Client Report FSOC29) indicated that nonbank mortgage companies were a prime target for systemic activity and practice designation, the Council decided instead to recommenda series of substantive, structural changes to Congress.