FHFA Constructs a GSE Stress-Capital buffer
Building on its pending rewrite of GSE-capital rules, FHFA today proposed capital-planning requirements for Fannie Mae and Freddie Mac akin in many ways to those governing large banks.
Campaign Advances to Oust McWilliams
Ramping up the FDIC battle, Public Citizen today called on President Biden to oust FDIC Chair McWilliams. Confirming those who have suggested that the fracas is about more than bank M&A, the letter is signed not only by many consumer-advocacy groups, but also by climate-change interest organizations.
Democrats Demand BNPL Review, CFPB Obliges
Acting quickly on Senate Democrats’ request, the CFPB today launched an inquiry into buy now, pay later (BNPL) credit, requesting information from five BNPL credit providers on BNPL risks and benefits.
FSB Says Global NBFIs are Stable, Shrinking vs. Banks
The FSB today released its annual NBFI monitoring report, concluding somewhat puzzlingly that balance-sheet NBFI vulnerability measures appeared broadly stable comparing 2020 and 2019 despite the market volatility at the pandemic’s outset and massive government intervention.