#FRB Dallas

24 05, 2022


2023-02-21T13:49:08-05:00May 24th, 2022|2- Daily Briefing|

BIS Committee Fears Debt Build-Up Poses Systemic Risk

The BIS Committee on the Global Financial System has concluded that sharp increases in household and corporate debt pose increasing systemic risk.

CFPB Creates New Competition Office, Plan

Reflecting its director’s continuing focus on consumer-finance competition, the CFPB today recast an office that previously encouraged “sandbox” product launches into an office focused principally on enhancing the ability of small firms and start-ups to compete with big banks, fintech, and bigtech.

FRB-Dallas Staff: TALF Worked for CMBS

The Federal Reserve Bank of Dallas has issued a new report documenting the manner in which Fed support at the pandemic’s outset supported U.S. commercial real estate.

IDIs Sound, but Worrisome Signs

The FDIC’s report on banking-sector 1Q data shows that, despite continuing strong earnings and robust credit quality, some IDIs are facing serious challenges.

HFSC Disabilities Hearing Confirms Little Appetite for New Legislation

As anticipated, HFSC’s Subcommittee on Diversity and Inclusion hearing today covered issues faced by persons with disabilities such as under-banking, unemployment and housing inaccessibility.

Brainard to Lay Out Key CBDC Considerations

The HFSC staff memo today on Thursday’s CBDC hearing confirms that it will be a consequential session.

HFSC Backs OLA, Climate Action in FY23 Budget

The House Financial Services Committee today released its views on the FY2023 budget, detailing broad support for the administration’s financial stability, climate, and housing efforts to guide its future authorizing work and that of the appropriations committees to the extent they heed HFSC’s request.…

12 04, 2022


2023-03-02T11:23:53-05:00April 12th, 2022|2- Daily Briefing|

FRB-Dallas Targets Renewable Energy Credit Risk

Venturing farther into politically-contentious territory, the Federal Reserve Bank of Dallas today issued a report finding that lenders with credit exposure to commercial renewable energy projects face unique and evolving risks that may adversely affect credit performance.  It bases this conclusion on numerous risk factors such as a lack of vertical integration seen in traditionally regulated markets, underperformance relative to forecasts, counterparty and merchant risk, and transmission challenges.

CFPB Takes Promised Tough Enforcement Action

Acting promptly on his recent threat to sanction “repeat offenders,” the CFPB today went after TransUnion and a former executive for what it asserts are continuing violations of law that warrant civil money penalties, injunctive relief, and consumer compensation.  This is the first significant enforcement action filed by Director Chopra and signals that, as we forecasted, the Bureau will act quickly on his new policies.

BIS Presses CBDC’s Financial-Inclusion Upside

Continuing its advocacy for “two-tier” CBDCs (see Client Report CBDC6), the BIS today released a study arguing that financial inclusion benefits are among the most important that should lead central banks to offer a fiat digital currency.

Toomey Continues Calls for Reserve Bank Reform

Renewing his attack against Neal Kashkari, head of the Minneapolis Federal Reserve Bank, Senate Banking Committee Ranking Member Toomey (R-PA) today also ramped up demands for structural Federal Reserve System reform.


13 10, 2021


2023-06-15T15:03:35-04:00October 13th, 2021|2- Daily Briefing|

Quarles Quandary Not Key to Fed Reg, M&A Action
Late yesterday, the Federal Reserve Board announced that Randy Quarles will cease his duties as supervision vice chair starting today. Mr. Quarles’ term as a governor continues until 2032 but the vice chairmanship is a position appointed by the President and confirmed by the Senate.

FSB Sets Ambitious Course for Cross-Border Payment Redesign
The FSB today published both a progress report on its cross-border payment roadmap (see FSM Report PAYMENT21) and a final set of forward-looking plans. Work on the roadmap has advanced well, with the FSB now expressly incorporating CBDC into its forward-looking work.

Senate GOP Heightens Pressure on Reserve-Bank Appointments
Countering an array of Democratic demands for diversity, Senate Banking Republicans today urged the boards of the Boston and Dallas Reserve Banks to ensure an apolitical appointment process.

AI Task Force Considers Algo Privacy, Transparency, Bias
As anticipated, today’s HFSC AI Task Force hearing on ethical AI kicked off Congressional work on this hot topic, making it clear that Democrats may advance consumer-data privacy, algorithm transparency, and anti-bias standards.

Brown Fires Fusillade at Fed Regulatory Policy
Making it more than clear that he takes at best a guarded approach to Jay Powell’s renomination, Senate Banking Chairman Brown (D-OH) today sent Mr. Powell a letter demanding a “new direction” in bank regulation regardless of who succeeds Vice Chairman Quarles and chairs the Fed.


30 09, 2021


2023-07-31T15:42:27-04:00September 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.



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