FSB Tries to Calm CoCo Confusion
Doubtless responding to the CoCo chaos when Credit Suisse failed, the FSB today issued a report laying out how cross-border crisis-management groups are to handle unallocated TLAC (UTLAC) such as the “alternative Tier 1” bonds popular in the EU.
FDIC 3-2 Vote Presages Knock-Down Basel Battle
As anticipated, the FDIC today voted 3-2 to issue a sweeping rewrite of U.S. regulatory capital requirements.
Divided, Cautious Fed Advances End-Game, GSIB Rewrites
As anticipated, Gov. Bowman today voted against the new capital framework, as did Gov. Waller; as a result, the vote was 4-2.
Stablecoin Bill Advances, Compromises to Come
At a fiery HFSC markup today, Chairman McHenry (R-NC) announced that bipartisan negotiations had broken down largely due to the White House, choosing to proceed to a final package as he remains open to amendment before floor action.
House Republicans Skewer Basel Rules
Hill comment so far in response to the new capital rules is sparse.