#resilience

Eliza Allen2022-11-14T17:00:05-05:00November 14th, 2022|2- Daily Briefing|

FSB Thinks 2020 Reg Relief Could Go, Stay – It All Depends

In conjunction with the G20 summit, the FSB has released a policy paper assessing the extent to which various pandemic-related regulatory forbearances should be continued.

FSB Reiterates Climate, Crypto, NBFI Plans

The FSB head’s letter to the G20 today reiterates all of the priorities expressed in its October letter to G20 finance ministers.

Regulatory Hearings to Address Last-Gasp 2022 Agenda, Position Panels for a Busy New Year

With GOP House and Democratic Senate control largely assured, this week’s hearings with Messrs. Barr, Gruenberg, Harper, and Hsu will illuminate not only current priorities – most notably what’s next for federal crypto law and rule – but also the very different priorities HFSC and Senate Banking will advance in the next Congress.

FRB-NY Staff: Big U.S. Banks Remain Extremely Resilient

In its latest assessment of the vulnerability of the fifty largest U.S. BHCs, Federal Reserve Bank of New York staff confirmed the overall rosy assessment of bank resilience in the Board’s latest financial-stability report (see Client Report SYSTEMIC94).

OCC Ramps Up Fair-Lending Enforcement

In remarks delivered for Acting Comptroller Hsu, Senior Deputy Comptroller for Bank Supervision Policy Grovetta Gardineer reiterated that ensuring fairness is a top OCC priority.

Gruenberg Finally Gets the Nod

Knowing now that he has secured Democratic Senate control into next year, President Biden today finally and formally nominated Acting FDIC Chairman Gruenberg to assume the chairmanship.

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Eliza Allen2023-03-27T12:49:01-04:00April 4th, 2022|2- Daily Briefing|

FDIC Climate-Risk Principles Set for Public Comment

Today’s Federal Register includes the final text of the FDIC’s request for public comment on climate-risk management principles.

FRB-NY Reasserts that Disasters Don’t Damage Bank Resilience

The Federal Reserve Bank of New York today released a blog post on its earlier staff paper finding that weather events triggering federal disaster declaration did not pose significant risk to bank resiliency, even for the most damaging of disasters.

GOP Demands Disclosure, Not Rules, Govern Stablecoins

Republicans last week outlined their preferred, disclosure-based approach to stablecoin regulation, a sharp contrast to the PWG’s recommendations (see Client Report CRYPTO21) calling for new chartering restrictions.

HFSC Presses Financial Industry for Reparations

The HFSC memo today on tomorrow’s hearing about the need for reparations from the financial-services industry indicates that the Oversight Subcommittee will focus on the extent to which banks provided financing for slavery, allowed for enslaved persons to be used as collateral, and how insurers covered enslaved people’s work or sales value.

Nonbank Small-Business Lenders Face Possible CFPB Sanction

House Small Business Chair Velasquez (D-NY) has introduced H.R. 7351 to force nonbank small-business lenders into the CFPB’s efforts to identify patterns of racial, ethnic, or gender bias via ECOA disclosures.

CFPB Demands Lenders Give Consumers Data in Servicing, Other Disputes

Building on its mortgage servicing initiatives, the CFPB today not only filed an amicus brief in a case against Wells Fargo, but also reiterated that banks must participate in “relationship banking” and respond promptly …

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