#master accounts – Page 2 – Federal Financial Analytics

1 03, 2022

DAILY030122

Eliza Allen2023-04-04T13:02:03-04:00March 1st, 2022|2- Daily Briefing|

HFSC Readies for Powell Testimony

Apart from a macroeconomic overview, much of the HFSC staff memo ahead of Chairman Powell’s appearance tomorrow details recent Fed actions to enhance diversity, and Fed-official trading problems and resulting policies.

Gruenberg Worries re Risks to Come

The FDIC released its usual quarterly report on IDI conditions, showing considerable strength in the fourth quarter. Still, Acting Chairman Gruenberg’s remarks expressed considerable caution about industry resilience under growing macroeconomic and geopolitical stress.

Reach of U.S. Sanctions

Building on our report last week on new sanctions (see FSM Report SANCTION16) and Karen Petrou’s memo, we here address a frequently-asked questions as the Ukraine conflict rages and sanctions increase: the extent to which foreign banks without a U.S. presence must adhere to U.S. sanctions.

FRB Tries Anew re Payment-System Access

Responding indirectly but importantly to the controversies swirling around Sarah Bloom Raskin (see Client Report FEDERALRESERVE69), the FRB today released a supplement to its earlier proposal about the extent to which novel entities are granted Reserve Bank master accounts (see FSM Report PAYMENT17).

Congress Poised to Tighten Russia’s Financial Noose

Signaling that the U.S. Congress will add new sanctions to pending Ukraine relief, Senate Finance Chairman Ron Wyden (D-OR) today called for an array of financial actions to circumvent Russian finance.

Daily030122.pdf…

7 02, 2022

DAILY020722

Eliza Allen2023-04-05T13:35:42-04:00February 7th, 2022|2- Daily Briefing|

FDIC Takes New, Unsurprising Direction
Upon taking office over the weekend, Acting FDIC Chairman Gruenberg released a new set of agency priorities.

Fed Lawyers Press for Regulated Crypto Prior to Payment-System Access
In sharp contrast to the economic and often then even theoretical focus of many Fed research papers, Fed lawyers last week released a note assessing the legal underpinnings of U.S. money and the issues they present for rapid evolution in tandem with increasing digitalization.

Toomey Heightens Raskin Opposition
Following up last week’s contentious hearing (see Client Report FEDERALRESERVE69), Senate Banking Ranking Member Toomey (R-PA) today sent Vice Chair-nominee Raskin a formal request for information on her relationship to a fintech company that unusually obtained a Fed master account.

Fed Reiterates Anti-DLT Construct for CBDC
As we noted last week, the FRB’s CBDC technology team known as Project Hamilton has determined an array of significant CBDC benefits but also found that DLT is not its preferred system infrastructure.

HFSC to Debate Stablecoins, Not Start Action on Them
Today’s HFSC staff memo makes it clear that tomorrow’s hearing will be a platform for both Congressional — or at least Democratic — support for the PWG’s stablecoin report (see Client Report CRYPTO21).

Daily020722.pdf…

3 02, 2022

FEDERALRESERVE69

Arezou Rafikian2023-04-05T14:06:42-04:00February 3rd, 2022|5- Client Report|

FedFin Assessment: Raskin Confirmation Possible, But a Squeaker

As this report details, all three Fed nominees before the Senate Banking Committee today emphasized the vital importance of Fed independence and their anti-inflation zeal to quell GOP opposition and cement it among moderate Democrats.

FEDERALRESERVE69.pdf…

3 02, 2022

FedFin Assessment: Raskin Confirmation Possible, But a Squeaker

Arezou Rafikian2023-04-05T14:06:56-04:00February 3rd, 2022|The Vault|

As this report details, all three Fed nominees before the Senate Banking Committee today emphasized the vital importance of Fed independence and their anti-inflation zeal to quell GOP opposition and cement it among moderate Democrats. Professor Philip Jefferson sailed through and will be confirmed — perhaps quickly — by a relatively -wide bipartisan margin. We expect Professor Lisa Cook also to prevail, with Democrats likely joined by a
couple of moderate Republicans convinced that attacks on her expertise art unseemly with regard to a Black woman given how rarely similar concerns are voiced about white nominees with no macroeconomic-policy expertise.

The full report is available to retainer clients. To find out how you can sign up for the service, click here.…

11 01, 2022

FedFin Assessment: Powell Sidesteps Many Challenges, Promises Much

Arezou Rafikian2023-04-24T15:54:45-04:00January 11th, 2022|The Vault|

As promised yesterday (see Client Report FEDERALRESERVE66), we listened closely today to gauge the extent to which Chairman Powell faces a serious challenge to reconfirmation. At least as far as Senate Banking Members are concerned, he doesn’t. Although Sen. Warren (D-MA) and other Democrats lambasted Mr. Powell over insider-trading allegations and what they called the Fed’s unresponsiveness, all still were cordial and seemed generally to blame the problem on institutional failures, not the chairman. Sen. Menendez (D-NJ) called the Fed’s diversity policy “outrageous,” but also does not seem inclined….

The full report is available to retainer clients. To find out how you can sign up for the service, click here.…

11 01, 2022

FEDERALRESERVE67

Arezou Rafikian2023-04-24T15:54:31-04:00January 11th, 2022|5- Client Report|

FedFin Assessment: Powell Sidesteps Many Challenges, Promises Much

As promised yesterday (see Client Report FEDERALRESERVE66), we listened closely today to gauge the extent to which Chairman Powell faces a serious challenge to reconfirmation. At least as far as Senate Banking Members are concerned, he doesn’t. Although Sen. Warren (D-MA) and other Democrats lambasted Mr. Powell over insider-trading allegations and what they called the Fed’s unresponsiveness, all still were cordial and seemed generally to blame the problem on institutional failures, not the chairman. Sen. Menendez (D-NJ) called the Fed’s diversity policy “outrageous,” but also does not seem inclined to block confirmation based solely on this issue. As anticipated, most senators focused on inflation and the economy; Mr. Powell often reflected this by affirming that the Fed will soon cease to be quite as accommodative. Senate Banking Chairman Brown (D-OH) urged Mr. Powell not to let up on economic stimulus, also complaining about big-bank consolidation, capital distribution, bank profits, and the need for more lending to “Main Street.”

FEDERALRESERVE67.pdf…