Search Results for “index.php” – Federal Financial Analytics

FedFin: Stablecoin Legislative Consensus in Sight, But from a Distance

By Arezou Rafikian|2023-04-04T15:59:02-04:00February 15th, 2022|The Vault|

Despite fierce partisan fighting over pending Fed nominations, today's Senate Banking hearing on stablecoin regulation was considerably more bipartisan that last week's HFSC session (see Client Report CRYPTO24). Both Chairman Brown (D-OH) and Ranking Member Toomey (R-PA) are in broad agreement on a two-tier structure in which stablecoins are issued either by banks or by nonbanks subject to strict reserve-asset, AML, and related regulation. The full report is available to retainer clients. To find out how you can sign up for the service, click here

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FedFin: Partisan Impasse Suggests Small Chance for Stablecoin Statutory Change

By Arezou Rafikian|2023-04-05T12:06:36-04:00February 8th, 2022|The Vault|

Today's HFSC hearing on stablecoins makes it clear that the bipartisan legislation Chairwoman Waters (D-CA) prefers is at best a long way off. Democrats generally agreed with the President's Working Group stablecoin report (see Client Report CRYPTO21), with Under-Secretary Liang today not only describing its findings but reinforcing the need for rapid regulatory intervention in concert with substantive statutory change. The full report is available to retainer clients. To find out how you can sign up for the service, click here.

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FedFin Assessment: Raskin Confirmation Possible, But a Squeaker

By Arezou Rafikian|2023-04-05T14:06:56-04:00February 3rd, 2022|The Vault|

As this report details, all three Fed nominees before the Senate Banking Committee today emphasized the vital importance of Fed independence and their anti-inflation zeal to quell GOP opposition and cement it among moderate Democrats. Professor Philip Jefferson sailed through and will be confirmed -- perhaps quickly -- by a relatively -wide bipartisan margin. We expect Professor Lisa Cook also to prevail, with Democrats likely joined by acouple of moderate Republicans convinced that attacks on her expertise art unseemly with regard to a Black woman given how rarely similar concerns are voiced about white nominees with no macroeconomic-policy expertise. The full report is available to retainer clients. To find out how you can sign up for the service, click here.

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FedFin: “Fair-Fee” Policy

By Arezou Rafikian|2023-04-05T14:22:57-04:00February 1st, 2022|The Vault|

Taking action to advance President Biden's competition order, 1 the CFPB is seeking views on fees which it believes exploit consumers by virtue of unfair competition. Although many of the fees it cites are covered by statutory disclosure regimes designed to ensure both front- and back-end fee transparency, the Bureau believes that many of these fees are unfair due to large-bank market power. The full report is available to retainer clients. To find out how you can sign up for the service, click here.

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FedFin on: U.S. Central Bank Digital Currency

By Arezou Rafikian|2023-04-11T16:11:59-04:00January 27th, 2022|The Vault|

Months after initially promising to release a discussion draft on central bank digital currency (CBDC), the Federal Reserve is now seeking comment on whether and how it might create one. Reflecting the hesitancy of several FRB leaders, Chairman Powell included, the draft emphatically states that the Board has made no decision to issue a CBDC and, should it do so, it will seek at least tacit approval from both Congress and whichever Administration is in charge at the time. The full report is available to retainer clients. To find out how you can sign up for the service, click here.

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FedFin on: Brainard Navigates Troubled Waters; Looks Like Smooth Sailing for Thompson

By Arezou Rafikian|2023-04-24T15:40:10-04:00January 13th, 2022|The Vault|

At today's confirmation hearing, Gov. Brainard took a lot of the heat on inflation Republicans only mildly mentioned during Mr. Powell's Tuesday confirmation hearing (see Client Report FEDERALRESERVE67). As we anticipated (see Client Report FEDERALRESERVE66) this reflects the fact that the GOP is united in opposition to her appointment as Fed vice chair; should she hold Sen. Manchin (D-WV) she will be confirmed; if not, perhaps not. Ranking Member Toomey (R-PA) also used the occasion to signal – again unsurprisingly – GOP opposition should Sarah Bloom Raskin be nominated.... The full report is available to retainer clients. To find out how you can sign up for the service, click here.

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FedFin Forecast: Prudential Regulatory Framework Set for Structural Change Largely Built on Current Standards

By Arezou Rafikian|2023-04-24T15:49:23-04:00January 12th, 2022|The Vault|

As promised, FedFin begins our 2022 forecasts with this in-depth report on bank regulation. In general, we conclude that the context of decisions in 2022 and beyond will shift from a focus on tailoring efficiencies and burden relief to one emphasizing risk mitigation, fairness, equity, and -- for the very biggest banks -- a smaller systemic footprint. This report looks at the impact of pending personnel decisions as well as the outlook for climate-risk, new capital rules, FBO standards, and other key issues.... The full report is available to retainer clients. To find out how you can sign up for the service, click here.

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FedFin Assessment: Powell Sidesteps Many Challenges, Promises Much

By Arezou Rafikian|2023-04-24T15:54:45-04:00January 11th, 2022|The Vault|

As promised yesterday (see Client Report FEDERALRESERVE66), we listened closely today to gauge the extent to which Chairman Powell faces a serious challenge to reconfirmation. At least as far as Senate Banking Members are concerned, he doesn't. Although Sen. Warren (D-MA) and other Democrats lambasted Mr. Powell over insider-trading allegations and what they called the Fed's unresponsiveness, all still were cordial and seemed generally to blame the problem on institutional failures, not the chairman. Sen. Menendez (D-NJ) called the Fed's diversity policy "outrageous," but also does not seem inclined.... The full report is available to retainer clients. To find out how you can sign up for the service, click here.

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Analysis of AML/CFT Regulatory Reform

By Arezou Rafikian|2023-04-25T15:45:12-04:00January 6th, 2022|The Vault|

As the banking industry has long hoped and Congress last year directed,1 FinCEN is beginning to develop a new policy framework prioritizing ways to make anti-money laundering (AML) and countering the financing of terrorism (CFT) regulation more risk-based. FinCEN is taking the opportunity of its request for information (RFI) also to seek views on ways to modernize AML/CFT standards, make them more efficient, ensure adherence to global protocols, and toughen rules where necessary to protect national security. Last year's law required Treasury to enhance law enforcement and submit a report on AML/CFT.... The full report is available to retainer clients. To find out how you can sign up for the service, click here.

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FedFin: Bank Merger Policy

By Arezou Rafikian|2023-05-22T16:11:59-04:00December 16th, 2021|The Vault|

Released in a highly-controversial fashion (see below) by two Democrats on the FDIC's board, this RFI posits the need for a significant review of mergers involving insured depository institutions (IDIs) due to many changes in the financial industry and, so it says, the lack of substantive competitive analysis over past decades even of the largest transactions. The full report is available to retainer clients. To find out how you can sign up for the service, click here.

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