#Restoy

27 10, 2023

DAILY102723

2023-10-27T17:02:18-04:00October 27th, 2023|2- Daily Briefing|

Barr Reiterates CBDC Slow-Go

FRB Vice Chair Barr today reiterated his recent comments that the Federal Reserve will only proceed with a CBDC if it gets express support from the executive branch and authorization from Congress.

Top BIS Official Questions Need for Higher Deposit-Insurance Coverage, Stronger Bank Regs

The BIS’s top bank supervisor, Fernando Restoy, today indirectly took sharp issue with several pending changes in U.S. deposit-insurance, regulation, and resolution standards.  Pointing to supervisory lapses as the principal cause of recent bank failures, Mr. Restoy argued that more stringent capital and liquidity requirements matter less to bank resilience than strengthened supervision.

Daily102723.pdf

22 10, 2021

Daily102221

2023-06-05T15:18:13-04:00October 22nd, 2021|2- Daily Briefing|

BIS Official Presses Climate Risk Go-Slow
In remarks today, Fernando Restoy, head of the BIS’s Financial Stability Institute, reinforced the complexities climate risk presents for financial regulation emphasized also in last night’s FSOC report (see Client Report GREEN11).

Agencies Announce Anti-Redlining Priorities, Target Nonbank Lenders
In concert with a landmark anti-redlining enforcement action, the Department of Justice today announced a new anti-redlining initiative. This will not only prioritize cases such as the one settled with Trustmark National Bank, but also pursue redlining at nonbank mortgage lenders.

Senior Republicans Slam Postal-Banking Pilot, Postmaster General
HFSC Ranking Member McHenry (R-NC) and Oversight Ranking Member Comer (R-KY) today blasted USPS’s postal banking pilot, accusing the Postal Service of implementing the pilot “in secret” and without Congressional notification.

Daily102221.pdf

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