#NDAA

Home/Tag:#NDAA
20 10, 2022

DAILY102022

2022-10-20T17:36:06-04:00October 20th, 2022|2- Daily Briefing|

Fed Staff Study: Climate Risk-Based Capital Impossible for Foreseeable Future

FRB staff released a stylized study of one critical climate-risk policy question:  the extent to which banks should hold capital against it.  Members of Congress have suggested this over recent years (see FSM Report GREEN9) and the BIS at the outset of its thinking recommended both “brown-penalty” and “green-incentive” capital charges (see Client Report GREEN).

FSB Presses for MMF, Open-End Rules; Government-Bond CCPs

Continuing its NBFI focus (see Client Report NBFI), the FSB today issued new recommendations to address government-security market illiquidity.

Gruenberg Gives No Clue as to Timing, Content of Inter-Agency Crypto Guidance

In remarks today, Acting Chairman Gruenberg reiterated the risks laid out in the FSOC digital asset report (see Client Report CRYPTO33), repeated warnings against misrepresenting FDIC deposit insurance, and announced forthcoming interagency crypto guidance without providing any details or timeline.

Bipartisan Senators Press Secondary Sanctions for Enactment

Sens. Toomey (R-PA) and Van Hollen (D-MD) released a readout of a conversation with the Ukrainian Ambassador on the upcoming G7 Russian oil price cap, positioning their oil sanctions amendment for inclusion in the National Defense Authorization Act (NDAA) in light of the Ambassador’s support for it.

Warren Calls for Stronger, More Transparent CFPB Remittance Rule

Joined by four Senate Democrats, Sen. Warren (D-MA) today sent a letter to CFPB Director Chopra asking that the agency strengthen its remittance rule to ensure greater transparency for exchange rates and fees it …

7 10, 2022

AL101022

2022-10-12T10:23:24-04:00October 7th, 2022|3- This Week|

Why It’s Nice to be Majority Whip

Although the Senate will come back on Tuesday for what will be an almost pro-forma session, one big item is likely to come to the Senate floor: the national Defense Authorization Act (NDAA).  This must-pass bill may seem far afield from financial policy, but Majority Whip Durbin (D-IL) has moved aggressively to position his bill to impose interchange-fee restriction once credit cards akin to his now famous “Durbin Amendment” for debit cards (see FSM Report INTERCHANGE10).  The first restrictions on what ends up in the NDAA include what leadership wants and that the amendment has the patina of having something to do with national defense.

Al3101022.pdf

Go to Top