9 12, 2022


2022-12-09T16:52:30-05:00December 9th, 2022|3- This Week|

Crypto Countdown

Crypto week will kick off Tuesday with an early-morning Peterson Economic Institute seminar at which Managing Partner Karen Petrou will preview not just two days of big box-office hearings, but also the outlook for bank regulation in the wake of growing Congressional interest into what the agencies knew, when they knew it, and why they appear to have done nothing about numerous risks with far-reaching policy impact if not also cost to the FDIC – see Karen Petrou’s last memo for who’s involved and what’s at risk as well as the letter sent late last week by Sens. Warren (D-CA) and Smith (D-NH) picking up on it.  We will of course be watching and then analyzing the House and Senate hearings featuring FTX.  We know already that both sessions will be a wild ride into territory of considerable danger for Sam Bankman Fried likely of little consequence to the broader policy questions roiling the future of cryptoassets and the actual action Congress and key agencies will take to define it.


8 12, 2022


2022-12-08T17:14:56-05:00December 8th, 2022|2- Daily Briefing|

Comment Deadline Set For Fed’s Climate-Risk Management Principles

The Federal Register today includes the Fed’s comment request on proposed climate risk-management standards that would guide banking organizations with assets over $100 billion (see FSM Report CLIMATE15).

Basel: Climate Risk Not Ready for Capital Requirements

The Basel Committee today published a clarification by way of FAQs to its recently-finalized climate-risk management principles (see FSM Report CLIMATE14).

Warren, Smith Turn FTX Spotlight on Banking Agencies

As predicted in Karen Petrou’s memo on Monday, Congressional interest has now turned to the role of banks and their regulators in the FTX debacle.

FSB Heightens Focus on CCP, Insurer Resolvability

After over at least a decade of talking about nonbank resolvability, the FSB today announced that addressing it has become an “urgent” priority.

OCC’s Risk Inventory Continues To Target Deposit, Operational, Climate, Crypto Risk

As with its June 23 report on bank risks, the OCC’s December inventory reiterates concerns such as deposit outflow due to rate hikes, operational risks due to cyber-threats and third-party relationships, and compliance and credit risks.

Warren, Smith Back DOL Disqualification Proposal

Tackling yet another “big-bank” concern, Sens. Warren (D-MA) and Smith (D-MN) sent a letter today applauding the Department of Labor’s Employee Benefits Security Administration (EBSA) proposal to disqualify banks found guilty of criminal misconduct from being qualified professional asset managers.


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