FRB Stipulates Archegos-Risk Remedies
As forecast when Archegos broke (see Client Report HEDGE59), the FRB today issued new, tough guidance detailing its supervisory expectations for large-bank exposures to investment funds.

FSB Advances Cross-Border Payment Revamp
Building on its new cross-border payment policy (see FSM Report PAYMENT23), the FSB today sought comment on how national and regional data frameworks affect the cost, speed, access, security, and the interoperability of cross-border payments.

Aborted Merger Paper Hits Partisan Battle Lines
Following yesterday’s battle over an RFI on bank mergers, senators are squaring off on both process and policy. Banking Chair Brown (D-OH) agreed with it, arguing that what he calls M&A “rubber stamping” hurts communities and creates banking deserts.

Waters Demands Regional-Bank Merger Moratorium
Uping the ante on bank mergers after the FDIC fracas over an RFI, HFSC Chairwoman Waters (D-CA) late this afternoon called on the FRB, OCC, and FDIC to hold all M&A over $100 billion until completion of this review, one under way by the FRB and Department of Justice, and any similar OCC assessments.