#letters

19 01, 2024

Al012224

2024-01-19T16:12:35-05:00January 19th, 2024|3- This Week|

Keep Those Cards and Letters… 

Although the comment deadline on the capital standards (see FSM Report CAPITAL230) closed last Tuesday, Members of Congress viewed that deadline with the same insouciance they adopt for keeping the federal government open.  That is, they got around to it when they felt like it.  As a result, letters on the capital rule keep coming in and FedFin analyses keep sending you summaries of each of their key points.  As Karen Petrou’s Monday memo will lay out, the most surprising aspect of most of the letters from Democrats is how guardedly they express support for the capital proposal.

Al012224.pdf

19 01, 2024

Daily-011924

2024-01-19T16:07:07-05:00January 19th, 2024|2- Daily Briefing, Uncategorized|

Bipartisan House Letter Slams Basel Proposal’s Capital Markets Impact

Following up on our analyses yesterday of Congressional pressure on the banking agencies, we here turn to a bipartisan letter from 15 Members of the House led by Capital Markets Subcommittee Ranking Member Sherman (D-CA) and Subcommittee Chair Wagner (R-MO) warning the agencies of the proposal’s adverse capital-markets impact.

Brown Leads Campaign for Strong End-Game Standards

The first unequivocal expressions of support for the capital rules from key Members we have found came today from Banking Committee Chairman Brown (D-OH) and eleven Senate Democrats.

Banking Agencies Seek NBFI Data from FBOs

The OCC, FRB, and FDIC today requested comment on a proposal to gather more granular information on call reports filed by FBOs related to loans and lease receivables.

GOP Leadership Reignites “Operation Chokepoint” Concerns

Reigniting GOP concerns about “Operation Chokepoint” political regulation, Senate Banking Ranking Member Scott (R-SC) today sent a letter to Treasury Secretary Yellen and FinCEN Director Gacki raising concerns that Treasury urged banks to surveil customers’ transaction-level data using what he calls politically-charged search terms such as “Trump” and “MAGA” as well as merchant category codes to detect activity such as legal firearm purchases.

Daily011924.pdf

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