DAILY051523
Yellen Highlights Investor – Not Uninsured-Deposit – Runs, Buoys Sector Mergers
In an interview over the weekend, Treasury Secretary Yellen struck a decidedly different tone on bank mergers than voiced in the Administration’s policy prior to recent failures.
Gensler Outlines Top Financial Stability Concerns
In remarks today, SEC Chair Gensler outlined his financial-stability priorities.
Failed-Bank CEOs Defend Themselves, Contest Need For Receivership
Ahead of testimony tomorrow before Senate Banking, the CEOs of SVB and Signature have filed statements defending their actions and those of their colleagues.
FHFA Seeks Views On New Pricing Framework
Following last week’s announcement that it would postpone its controversial decision to retain an upfront fee related to a borrower’s debt-to-income level, the FHFA today released a Request for Input on the Enterprises’ single-family pricing framework as well as the process for setting their upfront guarantee fees.
Barr Stands His Supervisory, Regulatory Ground
Vice Chairman Barr’s testimony for Congressional hearings this week has just been released along with the Board’s 2023 supervision-and-regulation report.
Gruenberg Sticks To His Guns
FDIC Chairman Gruenberg’s Congressional testimony largely recounts prior statements about the condition of the banking system, recent bank failures, the new special-assessment proposal (see FSM Report DEPOSITINSURANCE120), and the agency’s deposit-insurance reform conclusion (see Client Report DEPOSITINSURANCE119).