Barr Reiterates CBDC Slow-Go
FRB Vice Chair Barr today reiterated his recent comments that the Federal Reserve will only proceed with a CBDC if it gets express support from the executive branch and authorization from Congress.
Top BIS Official Questions Need for Higher Deposit-Insurance Coverage, Stronger Bank Regs
The BIS’s top bank supervisor, Fernando Restoy, today indirectly took sharp issue with several pending changes in U.S. deposit-insurance, regulation, and resolution standards. Pointing to supervisory lapses as the principal cause of recent bank failures, Mr. Restoy argued that more stringent capital and liquidity requirements matter less to bank resilience than strengthened supervision.