2023-05-25T17:44:03-04:00May 25th, 2023|2- Daily Briefing|

Gensler Calls On Banking Regulators To Tighten Short-Term, Collective Fund Rules

In remarks today, SEC Chairman Gensler announced that the SEC is in talks with bank regulators to close what he believes are regulatory gaps in short-term and collective-investment funds governed by the banking agencies, not the SEC.

HFSC Reports Transparency, LLPA Bills

After the lengthy debate and Democratic amendments we described yesterday at yesterday’s HFSC markup, the committee late last night reported both Rep. Barr’s (R-KY) regulatory transparency bill and Rep. Davidson’s (R-OH) LLPA rescission bill on strictly party lines by votes of 26-22.

OCC Redesigns Liquidity-Risk Framework to Capture Recent High-Impact Developments

In conjunction with a tough new enforcement policy (see forthcoming FedFin analysis), the OCC today updated the liquidity section of its examination Handbook to gather the data the agency believes essential in light of recent history.

OCC Targets Poor CAMELS, Repeat-Offender Banks With New PCA Framework

In conjunction with a new liquidity manual designed to position examiners to address recent risks (e.g., social-media runs, FHLB funding), the agency today issued a touch new enforcement policy.

House Judiciary Leadership Accuses BofA of Politically-Inspired Data Breaches

Bringing banks into the GOP campaign against “weaponizing” domestic activities, House Judiciary Chairman Jordan (R-OH) and Antitrust Subcommittee Chairman Massie (R-KY) today sent a letter to Bank of America’s CEO alleging that the bank voluntarily provided the FBI with sensitive transaction information related to the violent protests during January 6th without any legal process.