FedFin Initial Assessment: Powell Appointment Process, What’s Next
As anticipated, today President Biden nominated Jerome Powell to a second term as Fed chair and Lael Brainard accepted the vice chairmanship of the Federal Reserve System, not just that for supervision.
ECB Adopts Innovative, Crypto, Digital Regulatory Construct
Leaving the U.S. still farther behind, the European Central Bank today finalized a new electronic-payment regime capturing nonbank and digital payments.
FSB Reiterates Urgency of LIBOR Transition
Underscoring the importance of quickly ending LIBOR reliance, the FSB today again emphasized that it is critical that institutions be ready for LIBOR cessation at the end of the year.