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5 12, 2022

DAILY120522

2022-12-05T16:58:52-05:00December 5th, 2022|2- Daily Briefing|

Hsu Reiterates Importance of Credit Risk Management, Diversity

Remarks today from Acting Comptroller Hsu break no new ground on credit risk management or diversity, two topics discussed before a group of bank risk managers.  Mr. Hsu again emphasizes the importance of effective credit risk management, noting in particular that risk managers should look to produce accurate risk identification and ratings, focus on concentrated portfolios and vulnerable borrowers, and conduct stress tests and sensitivity analyses as interest rates and inflation continue to change.

Daily120522.pdf

25 07, 2022

DAILY072522

2023-01-04T15:47:24-05:00July 25th, 2022|2- Daily Briefing|

Stablecoin Bill Still in Limbo

As we noted last week, the fate of stablecoin legislation at this week’s HFSC mark-up has been uncertain.  The committee staff memo today does not include a bill in this area; it is our understanding that negotiations continue on a draft amenable to both Chairwoman Waters (D-CA) and Ranking Member McHenry (R-NC).

OCC Seeks Fintech, Nonbank Analyses

The OCC today calls for academic and policy-focused papers on the impact of fintech and nonbanks on banking and the markets for lending, deposit-taking, and payment services.  This sweeping inquiry is designed to inform the agency as policy continues to take shape in these high-profile areas, with the announcement today providing no insight into whether these papers – which will doubtless come also from trade associations and other advocacy groups – will do more than provide a symposium’s worth of discussion.

Stablecoin Rules – or Lack Thereof – Likely to Remain

As noted in media this afternoon, HFSC will in fact not mark up a stablecoin bill on Wednesday.  Instead, some staff indicate that a discussion draft will be released so that the process of crafting a bill can continue in August in hopes of a September vote.  However, even if one were to occur, the odds of legislation in this Congress are slim to none at so late a date in the absence of any meaningful Senate Banking action in this arena.

Daily072522.pdf

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