14 07, 2022


2023-01-06T15:12:22-05:00July 14th, 2022|2- Daily Briefing|

FSB Climate-Risk Progress Report Underscores Disclosure Standards, Improved Data

The FSB today released a climate-risk progress report that also details near-term actions.  These include not only the statement to the G20 in October noted in yesterday’s G20 report, but also a status report in September from the Task Force on Climate-Related Financial Disclosures (TCFD) on industry progress toward adopting its climate disclosure recommendations.

CFPB, OCC Slam BofA for UI-Fraud Lapses

The OCC and CFPB today issued a $225 million enforcement order against Bank of America related to unemployment-insurance and public-benefit fraud that led the bank to improperly withhold prepaid-card payments to legitimate recipients.

BIS Builds “Central Bank Liquidity Bridges”

Continuing its work to promote better cross-border payments, the BIS today floated the idea of “central-bank liquidity bridges” to overcome current frictions in the bank-dominated sector.

Clarida and Powell Cleared, but OIG Still Reviewing Fed Ethics

The Office of the Inspector General at the Fed today cleared former Vice Chair Clarida and Chairman Powell of ethics violations that have dogged them as recently as a letter yesterday from Senate Democrats.


14 10, 2021


2023-06-07T16:17:21-04:00October 14th, 2021|2- Daily Briefing|

G7 Presses CBDC, Cross-Border Payment Work; Disparages Stablecoin
G7 finance ministers today released policy-setting statements on digital payments and CBDC. Building on recent BIS work (see Client Report CBDC6) essentially endorsing retail-facing CBDC, the G7 points to CBDC’s considerable benefits as long as the questions also addressed by the BIS are successfully answered in member jurisdictions.

Global Climate-Risk Disclosures Advance
The FSB’s Task Force on Climate-related Financial Disclosures (TCFD) today reported that private-sector adoption of TCFD-aligned disclosures is accelerating, with over fifty percent of firms now disclosing climate-related risks and opportunities.

Cash-Acceptance Mandate Faces GOP Opposition
Continuing debate on the merits of mandating cash acceptance (see Client Report MERGER7), HFSC’s Oversight Subcommittee Chairman Green (D-TX) and Ranking Member Emmer (R-MN) remain diametrically opposed to mandating acceptance.


Go to Top