FSB MMF Consultation: Options, Contingent Questions Make Structural Change Uncertain
As promised late last year (see Client Report NBFI), the FSB today issued a consultation on specific remedies enhancing MMF resilience.

FHFA Expands Borrower Relief
Acting quickly under its new director to increase borrower relief, FHFA today revised its loan-mod terms for COVID-impacted borrowers, significantly expanding borrower eligibility for interest-rate reductions.

IOSCO Tries to Dry Up Greenwashing
Responding to greenwashing allegations, IOSCO today solicited comment on recommendations for regulatory and supervisory expectations surrounding ESG investments.

HFSC Dems Highlight Crypto Risks
In today’s HFSC Subcommittee on Oversight and Investigations hearing, Democrats worried about crypto’s volatility and its potential for fraud and systemic risk, with Full Committee Chairwoman Waters (D-CA) highlighting what she believes may be the systemic risk presented by hedge fund investment in crypto. W

FDIC Adopts Expanded Inclusion Definition, Objectives
FDIC Chair McWilliams today espoused a new definition of financial inclusion: “whether the financial system is working” for an individual, not just whether one has a checking or credit account.

Regulators, FinCEN Launch Prioritized AML/CFT Revamp
Responding both to industry requests and a new mandate (see FSM Report AML133), federal and state bank regulators, FinCEN, and the NCUA today issued their AML/CFT priority list.

Dems Stress Climate-Related Financial Stability Risks
HFSC’s Subcommittee on Consumer Protection today held a short hearing in which Democrats, led by Full Committee Chairwoman Waters (D-CA) and Subcommittee Chairman Perlmutter (D-CO) supported stress testing and climate disclosures to address the “urgent” financial stability risk posed by climate change.