#Reuters

21 05, 2024

DAILY052124

2024-05-21T17:16:59-04:00May 21st, 2024|2- Daily Briefing|

Barr Reviews Regulatory Agenda

FRB Vice Chair Barr today reiterated that pending liquidity rules will address discount-window preparedness, HTM and repo monetization, and outflow rates for VC, high-wealth, and crypto funds; the omission again of operational deposits suggests as we noted yesterday that these may not be in the regulatory mix.

FedFin Update on Gruenberg Alternatives

Reuters today is reporting that the White House wants quickly to name a replacement for FDIC Chair Gruenberg who would be a “fresh start” suitable for quick confirmation.

FRB-Chicago: State Insurance Guaranty Funds Pose Life-Insurance Resolution Challenges

Assessing an issue that has long factored in FSOC’s assessment of life-insurance company systemic risk, the Federal Reserve Bank of Chicago has issued a staff note assessing the extent to which state guaranty funds ensure resolvability without adverse consequences.

Senate Permanent Investigations Assesses Zelle Fraud Protection

Today’s Senate Permanent Investigations Subcommittee hearing on Zelle repeated much also said in Senate Banking (see Client Report PAYMENT28).

Daily052124.pdf

2 10, 2023

DAILY100223

2023-10-02T16:36:52-04:00October 2nd, 2023|2- Daily Briefing|

FRB FAQs Open a Small, But Significant Capital Window

In what Reuters takes as a sign of hope that the end-game rules may not be as crushing as banks fear, the FRB has issued a new FAQ related to credit-linked notes and SPVs.

Bowman Turns to Specific Supervisory Reforms

In remarks today, FRB Governor Bowman expanded on her prior comments about Fed supervisory lapses, but made it clear that she also opposes a “heavy-handed” supervisory approach that relies primarily on call report data, instead calling for a new approach to CAMELS and regular engagement with financial institutions to express areas of concern or to better understand a bank’s strategic direction.

Fed OIG re Silvergate: Far More Scathing re Supervision, Need for New Guidance

The OIG report today from the Fed regarding supervisory lapses at Silvergate is considerably less expansive than the prior report on SVB because the parent company remains open despite the IDI’s voluntary liquidation and relevant data are thus deemed confidential.

Barr Presses Emergency-Window Readiness

FRB Vice Chair Barr’s comments today on monetary policy and financial stability provide a detailed rationale for addressing the linkages between these two arms of the Fed’s mandate without any specific steps for doing so.

Daily100223.pdf

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