#EBA

3 01, 2024

DAILY010324

2024-01-03T16:38:18-05:00January 3rd, 2024|2- Daily Briefing|

EBA Plans Full-Bore NBFI Crackdown

We will shortly provide clients with an in-depth analysis of notable changes to call reporting released for comment late last year.  Today’s Financial Times interviews José Manuel Campa, the chair of the European Banking Authority (EBA), whose comments on NBFIs make it clear that, as we expected, the U.S. action is part of a broader global push to map bank/NBFI interconnections and then curtail them.  The EBA is also planning to stress-test these interconnections, a move we expect also from the Fed when it moves forward on Vice Chair Barr’s multi-scenario test plans.

Women Do Too Know

The Federal Reserve Board this week has issued a staff note finding that the so-called financial literacy gender gap is largely driven by study design, not gender differences in financial literacy.  This has considerable implications for many financial-literacy programs now specifically targeted to women.  The note finds that women are much more likely than men to utilize the “don’t know” choice even though men and women actually respond incorrectly at similar rates.

Daily010324.pdf

12 10, 2023

DAILY101223

2023-10-12T17:09:17-04:00October 12th, 2023|2- Daily Briefing|

FSB Calls for More Private Climate Disclosures

Expressing considerable satisfaction with climate-risk disclosure progress, the FSB today released a report finding that all member jurisdictions either have or plan climate disclosure regimes, but there still needs to be greater private-sector self-reporting.

Pressure Builds for Heightened Iran, China Sanctions

Ahead of the hearing we anticipated earlier this week, HFSC Republicans have introduced several bills designed to increase financial pressures on Iran to punish it for the Hamas attack.

EU Regulators Add ESG Considerations to Regulatory, Supervisory Standards

In a bit of gold plating for what it believes to be the public good, the European Banking Authority today issued a report pressing for Pillar 1 capital charges for activities posing ESG risks with particular attention to climate.

OMB Redesigns Federal Rulemaking to Consider, Increase Competition

Acting under the President’s competition executive order (see Client Report MERGER6), OMB’s Office of Information and Regulatory Affairs yesterday issued new guidance governing federal rulemaking stipulating express assessment of the impact of new or prospective rules to enhance market competition.

CFPB, DoJ Issue Immigration Discrimination Warning

Taking action that may in some cases put lenders in conflict with state law, the CFPB and DoJ stated today that “unnecessary or overbroad reliance” on immigration status in a credit decision may violate the ECOA.

Daily101223.pdf

21 09, 2021

Daily092121

2023-08-03T11:38:46-04:00September 21st, 2021|2- Daily Briefing|

EU Regulators Mark Path to “Platformization” Policy
Advancing work on an issue barely touched in the U.S., the European Banking Authority (EBA) today announced a supervisory agenda aimed at “platformization” – i.e., the increasing integration of finance with technology or other nonbank delivery platforms.

Basel Plans Climate-Risk Consultation, Defers Digitalization Decisions
The Basel Committee today announced that it discussed climate-related financial risks at its recent meetings, now developing a set of climate-risk supervisory practices for consultation later this year.

Hsu Highlights Crypto’s Systemic, Structural, Equality Risks
OCC Acting Comptroller Hsu today picked up the point in Karen Petrou’s recent op-ed: cryptocurrencies may well pose risks to those least able to bear them.

Daily092121.pdf

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