FSB publishes 2021 G-SIB list
A new post in the Federal Reserve Bank of New York’s blog looks at offshore U.S. Dollar MMF runs during COVID to assess the remedies recently outlined by the FSB for MMF reform (see Client Report MMF18) now under review by the FSOC, SEC, and FRB.

FSB Tinkers with GSIB Designations
The FSB today published its 2021 GSIB list, capturing the same thirty banks but moving some around just a bit. Now, JPMorgan, BNP Paribas, and Goldman Sachs have moved one bucket higher, with JPMorgan now the only Bucket 4 institution, with no banks yet in the top Bucket 5.

OCC Sets Out on Crypto Roadmap Ahead of FRB, FDIC
Although the agencies today issued their crypto “roadmap,” the actual two-page document reads a bit more like a travel brochure. However, the OCC today also sent a letter making it clear to national banks that, while the agencies consider an array of options, the OCC will not permit continued crypto innovation along any of lines charted by Acting Comptroller Hsu’s predecessor.