HFSC Yellen, Powell Hearing Sure to be More than Lively
Although the HFSC Democratic staff memo suggests tomorrow’s hearing with Chair Powell and Secretary Yellen will focus on pandemic-relief programs, we expect it instead to devolve to the kind of heated debate evident at yesterday’s Senate Banking session (see Client Report REFORM208).

Global Supervisors Renew Demand for Bigtech Standards
The BIS’s Financial Supervisory Institute (FSI) today issued its latest bigtech assessment. Largely a survey of global actions, it concludes that competition (i.e., antitrust) policy is the focus of recent efforts in most surveyed nations.

Basel Capital, Liquidity Compliance Gaps Grew in 2020
In its latest monitoring report, the Basel Committee finds a significant jump to 2.9 percent from 1.8 percent in the amount of capital the largest banks need to comply with the final Basel III/IV framework. This is, Basel says, attributable to some significant outlier banks along with capital relief during the 2020 pandemic.