Browsing: Policy

Policy

Testifying before the Senate Banking Committee today, Acting Comptroller of the Currency Michael Hsu said that the OCC has aggressive internal timelines for working with the Federal Reserve and FDIC to put forward a joint rulemaking that strengthens and modernizes the Community Reinvestment Act.

Newsbytes

A U.S. central bank digital currency “is unlikely to be an equally effective tool for all of the purposes for which it has been advanced, or even to be effective for some stated purposes at all,” the Clearing House said in a paper published today.

Commercial Lending

The American Bankers Association and a coalition of financial trade groups wrote in support today of the Adjustable Interest Rate (Libor) Act to address “tough legacy” contracts that currently reference Libor but lack adequate fallback language and can’t be amended to add it.

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