DAILY052422
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.…