22 05, 2023


2023-05-22T16:53:15-04:00May 22nd, 2023|2- Daily Briefing|

HFSC Set To Tackle LLPAs, GSE Policy

As noted, HFSC tomorrow will grill FHFA Director Thompson.  Republicans will surely emphasize their opposition to recent LLPAs laid out at a subcommittee hearing last week; Democrats will continue to defend them.

Americans Struggle With Inflation, Savings; Bank Use Stable

Although the Fed’s latest economic well-being study has grim macro results with significant political consequences, it also finds that 94 percent of Americans in 2022 had banking relationships, an unchanged rate from 2021 although gaps remain by age, race, ethnicity, and disability.

Kashkari Disputes Need For Broad Reg Rewrite If Big-Bank Capital Goes Way Up

Renewing his campaign to hike large-bank capital ratios, FRB-Minneapolis President Neel Kashkari today said that higher capital requirements would have prevented recent failures and that additional, over-complex rules are poor substitutes for them.


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.


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