ABA today welcomed the Federal Reserve’s proposed rule counting certain municipal bonds as high-quality liquid assets under the Liquidity Coverage Ratio — a measure ABA has advocated for since the regulatory agencies first published the liquidity standards — but described it as a “modest step” that leaves the band of eligible HQLA too narrow.
Continuing the banking industry’s press against overreach by the National Credit Union Administration, the 53 state bankers associations today wrote to Congress urging them to further investigate NCUA and its efforts to subvert congressional intent.
The Senate Appropriations Committee today passed by a 16-14 party-line vote a spending bill for fiscal year 2016 that includes the text of the ABA-backed financial reform bill introduced earlier this year by Sen. Richard Shelby (R-Ala.).
The U.S. Export-Import Bank has contributed positively to economic growth and its current expired state could “damage the U.S. economy,” Democratic staff for the Joint Economic Committee said yesterday in a new report.
ABA President and CEO Frank Keating kept up the pressure on the National Credit Union Administration and the credit union industry with an op-ed today in The Hill noting that — in addition to being exempt from taxes — credit unions enjoy a “compliant federal regulator that often acts like a cheerleader for the industry it is supposed to be supervising.”
According to news reports this morning, several ABA-opposed provisions are still in play as revenue-raising measures in the Senate’s highway spending reauthorization bill, even though the bill failed to advance on a procedural motion on Tuesday.
One-third of depository institutions have reported receiving pressure by their examiners to conduct stress tests on their portfolios or to expand ongoing stress testing, according to a recent survey by financial service provider Sageworks.
National Credit Union Administration Chairman Debbie Matz will appear before the House Financial Services Subcommittee on Financial Institutions and Consumer Credit tomorrow — her first appearance before Congress since 2011 — and ABA urged House members to hold NCUA accountable for its efforts to subvert congressional intent.
The Senate Appropriations Subcommittee on Financial Services today approved a spending bill for fiscal year 2016 that includes the text of the ABA-backed financial reform bill introduced earlier this year by Sen. Richard Shelby (R-Ala.).
ABA President and CEO Frank Keating appeared on “Bloomberg Surveillance” today to discuss the fifth anniversary of Dodd-Frank and make the case for strategic reforms to the overall law.