#Budd – Federal Financial Analytics

26 02, 2024

DAILY022624

Eliza Allen2024-02-26T16:36:24-05:00February 26th, 2024|2- Daily Briefing|

BIS: More Bank Competition Leads to Increased Credit Risk

A new BIS paper looks at a question critical to the debate over bank-merger policy: the extent to which competition drives bank risk-based pricing decisions in corporate lending and, by extension, other credit markets.

OCC Proposes Changes to FOIA Procedures

The OCC today proposed several changes to its FOIA procedures, including allowing expedited processing requests and appeals of denials of these requests and those for fee waivers.

Warren, Progressives Expand Blast on CapOne/Discover Deal to Encompass OCC Merger Proposal

Following other Democratic attacks on the CapOne/Discover merger and her own, Sen. Warren (D-MA) continued her challenge in a letter also signed by twelve House Democrats.

CFPB Takes Precedent-Setting Step Bringing Nonbanks Under Supervision

The CFPB late Friday released its first contested finding that a nonbank is subject to its supervision following the establishment in 2022 of a process for bringing nonbanks under its supervisory wings (see FSM Report CONSUMER44).

Senate Republicans Introduce Anti-CBDC Bill

Sen. Cruz (R-TX) alongside Sens. Hagerty (R-TN), Scott (R-FL), Budd (R-NC) and Braun (R-IN) today introduced a bill to prohibit the Fed from directly or indirectly issuing a CBDC or even using CBDC as a monetary-policy tool.

Daily022624.pdf…

DAILY031822

Eliza Allen2023-04-03T14:21:59-04:00March 18th, 2022|2- Daily Briefing|

Commodity-Market Backstop Prospects, Impact

In this alert, we update clients on our assessment of policy consequences related to commodity-market strains. Notably, a letter from European energy traders to the ECB has been made public indicating stress in this sector is so severe that traders are seeking emergency liquidity support. While directed to the ECB, the letter calls upon all central banks to provide this support, making it likely that a similar plea has been sent to the Federal Reserve.

Congress Wants More, Tougher Sanctions

Although witnesses at yesterday’s Senate Banking Committee sought to assure Congress that digital currency does not promote sanctions evasion (see Client Report SANCTION17), legislation continues to advance to curtail any form of sanctions evasion. As we noted yesterday, senior Senate Democrats have introduced a bill expressly targeting digital assets and exchanges while HFSC marked up numerous bills tightening more conventional financial-transmission and policy channels.

Daily031822.pdf…

REFORM209

Arezou Rafikian2023-07-31T15:42:27-04:00September 30th, 2021|5- Client Report|

HFSC Dems Mum on Powell Renomination

In very sharp contrast to the Senate Banking session on Tuesday with Chairman Powell and Secretary Yellen (see Client Report REFORM208), today’s HFSC session was largely devoted to partisan wrangling over monetary policy, the debt ceiling, and the Biden Administration’s overall fiscal policy. Likely complicating Democratic support for Mr. Powell, Ranking Member McHenry (R-NC) strongly endorsed renomination. Significantly, no Democrat spoke on this issue nor did any raise the trading scandal at the Reserve Banks or the Fed’s regulation of very large banks in this or, indeed, any other context.

REFORM209.pdf

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