DAILY101123
Bowman Targets U.S. Leverage Ratio, NBFIs
In remarks during the Morocco IMF/Bank meeting today, FRB Gov. Bowman contrasted U.S. bank resilience with the IMF’s findings yesterday on potential vulnerabilities as rates rise and macroeconomic conditions soften.
FSB Reiterates Stability Concerns
The FSB’s latest work plan reiterates all it most recently said to the G20.
CFPB Barrels Down on “Basic” Banking Fees
In conjunction with a new White-House junk-fee initiative, the CFPB today issued “guidance” – i.e., essentially a final rule – banning large banks and credit unions from collecting “unreasonable” fees for what the Bureau considers reasonable and “basic” account information.
SEC Throws Wrench into TLAC Standards
As we noted yesterday, the FSB’s assessment of the global resolution framework’s effectiveness found significant glitches it urges national regulators quickly to address via standards such as those now pending in the U.S. to bring smaller banking organizations into the resolution-planning regime (see FSM Report LIVINGWILL23).
OFR Study: Short-Selling Does Not Harm Financial Stability
OFR today released a model-based study that finds no evidence that short-selling adversely affects financial stability.