OIG Blasts FDIC’s Crypto-Policy Delay
Late yesterday, the FDIC’s Office of Inspector General (OIG) issued a report critical of the FDIC’s supervisory crypto policy.
Fed May Signal Possible Compromise as GOP Barr Demands Capital Answers
Amid press reports that Chair Powell has implicitly promised capital-rule compromise, HFSC Financial Institutions Chair Barr (R-KY) released a letter today pressing Vice Chair Barr still harder on the cost-benefit analytical (CBA) and cumulative-impact issues raised at the September hearing at which Karen Petrou testified.
Fed Data Show Increases in Household Financial Resilience, Profound Home-Affordability Gap
The Federal Reserve yesterday released its triennial Survey of Consumer Finances (SCF). As always, we here highlight data with financial-policy implications; Petrou blogs and other releases will update economic-equality indicators.
BIS Head Calls for Review of Large Bank Supervision
BIS General Manager Agustin Carstens today said that the mid-March failures show the need for nations to review how they supervise larger banks, specifically highlighting liquidity risk and setting frameworks for emergency liquidity assistance.
OCC Analysis Shows Broad IRR Resilience With Startling Risk Pockets
Showing some pockets of severe risk but overall resilience, the OCC today released a statistical analysis of interest rate risk based on projected changes in twelve-month net interest income as well as the economic value of equity in parallel interest rate shock scenarios ranging from -200 basis points to +400 bps.
CFPB Thinks Big on Open Banking
As anticipated, the CFPB today advanced from a review of consumer data rights (see FSM Report DATA3) to a specific “open banking” proposal.
Barr Lays Out New Stress-Test Construct
Building on his prior comments about stress-test challenges at a hearing in May (see Client Report REFORM224), FRB Vice Chair Barr today outlined the Fed’s plans for incorporating multiple stress tests in supervision and capital regulation.