Powell Supports Senate FinReg Bill, Targets eSLR
In this report, we assess the financial-policy impact of FRB Chairman Powell’s first appearance in his new position before the House Financial Services Committee. As he signaled in his confirmation hearing (see Client Report FEDERALRESERVE41), he is generally supportive of the Senate reform bill (see Client Report SIFI26), today expressing support for $250 billion threshold. Noting as we did in our in-depth report on the bill that the measure allows the FRB to impose heightened standards on firms over $100 billion, Mr. Powell’s statements today will strengthen bill advocacy in the face of efforts by Sen. Brown (D-OH) and others to argue that many regulators oppose S. 2155.